FLORIDA REAL ESTATE ATTORNEYS
PROTECTING YOUR INTERESTS WHEN REFINANCING
Property values in South Florida and across almost all parts of the country have finally recuperated and are thriving. With homes back into positive equity, now is the time to refinance. Interest rates continue to rise, up almost half a point from the same time last year. And with many borrowers just above water, refinancing is playing a large part of the mortgage arena today.
But, borrower beware. Don’t get scammed when you refinance. Many title companies and sadly attorneys alike, will not advise borrowers that they are eligible for a large discount on their title insurance (a requirement when they refinance with a lender). It is called a “REISSUE CREDIT” and what it means is that you do not need to pay your entitle insurance policy again. Rather, you are entitled to a credit if you have your prior Owner’s Policy and are the same owner and the policy is no more than three years old.
THIS AMOUNTS TO THOUSANDS OF DOLLARS IN CLOSING COSTS SAVINGS.
Also, when you approach a lender to refinance, ask to use your own title company.
Don’t be forced into using the bank’s, who can tack on additional fees and costs, that the bank doesn’t want to pay, to you.
If you are refinancing, purchasing a home and obtaining a new mortgage, or looking to modify, call us. At the Law Offices of Jacqueline A. Salcines, P.A. we are experienced attorneys and accountants, holding dual degrees to better serve you and your real estate needs. Allow us to put our knowledge and experience to work for you.
Without an attorney by your side, you may be paying more than you have to in closing costs.
Ask for a free estimate of costs, or a pre-HUD when you select an attorney to represent you. There is no charge for this and you will get an accurate picture of what you need to pay at closing.
Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com