Homeowners may consider refinancing a mortgage loan for a variety of reasons – from obtaining lower interest rates to adjusting the duration of the loan. As with many legal and financial transactions, refinancing a mortgage can be a daunting task. While not required, it’s important to protect your interests by hiring an experienced mortgage refinancing attorney.
1. Avoid Scams.
Predatory lending refers to lenders who target people with dishonest tactics like charging hidden fees and providing misleading information about loan terms. These schemes may appear to be favorable and affordable, but they are deceptive and can trap the borrower in a cycle of debt. An attorney can help you examine lender offers to determine whether or not the costs, fees, and terms are legitimate.
2. Protect Your Interests.
When refinancing your mortgage, it’s imperative to have someone looking out for you and your best interests. While other individuals and businesses involved in the process may be legitimate and trustworthy, nothing compares to having an experienced mortgage refinancing lawyer on your side. It’s important to note that, even if another attorney is present (on behalf of the lender, for example), this person is not YOUR attorney. Hiring your own attorney is the best way to ensure that everything is done properly and to your benefit.
3. Simplify the Process.
Refinancing your mortgage involves many different parts and it can be a complicated legal transaction. An attorney can help you simplify the process and ensure it runs smoothly. In addition, they can provide peace of mind by reviewing your documents and guiding you on what steps to take next.
The attorneys at Churchill, Quinn, Richtman & Hamilton, Ltd have decades of experience helping individuals and families with all types of real estate concerns, including mortgage refinancing. You don’t have to do it alone! Contact us at 847-223-1500 to learn how we can help.