With interest rates at an all time low, there has never been a better time to refinance your home loan. If you already own the home and the property has equity, you can tap into some of that equity and take cash out to pay off debt or for school. If the property has a higher interest rate mortgage, you will benefit by having a reduced rate and monthly payment.

The benefits of hiring a real estate lawyer who is also a title company for a refinance are many.

First of all, you are entitled in Florida to choose your own title company to handle the refinance. What you pay is nominal to get peace of mind. Often the fee is between $650 and $750 in attorney’s fees. Moreover, if you do not hire the title company and advise your lender you have selected one, the bank will hire one for you, and often charge twice as much. And, the worst part is, that even though you are paying the bill, the title company does not represent you. They represent the lender.

Additionally, by hiring a title company for a refinance, we can look for your prior owner title insurance policy and issue you a credit for your title insurance so you do not have to pay it again and will have significant savings at closing. Not all title companies issue the credit and borrowers end up paying unnecessary fees and costs.

Lastly, by hiring us, the closing is done at our offices. By the attorney.

Attorney Jacqueline A. Salcines will guide you every step of the way with all documents that need to be signed and explain what you are signing. The day of closing, the mortgage and note will be signed here so if you have any questions or doubts, the attorney will explain it.

Do not go it alone. A mortgage is often the highest debt consumers enter into and with all the legal terms and repercussions for default, it makes no sense to not hire a lawyer.

Attorney Jacqueline A Salcines, Esq., has been assisting borrowers with their real estate and mortgage needs for over 21 years. Consult with us today.


Attorney Jacqueline A. Salcines, Esq.
706 S. Dixie Highway
Second Floor
Coral Gables, FL 33146
Tel: 305 | 669 | 5280

foreclosure process CoreLogic reports that in the 4th Quarter of 2012, over 200,000 properties came up from being “underwater” and a total of 1.7 Million homes in all of 2012.  Source: DS  To read the full article go to

What does this mean for those selling… that it is once again a sellers market.  That asking price once again retrieves dozens of contracts, over asking price, many from cash buyers.

What does this mean for those buying… that the market is once again competetive and will weed out those looking for distressed bargains.

What does this mean for those looking to modify… that the lenders will most likely make less and less principal reductions, as appraisals show that mortgages are once again not so far apart from fair market value and will not pass the NPV test.  Many that refinanced or took out second mortgages or HELOC’s may still experience negative equity, but it may be harder and harder to modify.  Proper, uninflated values must be closely calculated and provided to the lenders.

What does this mean for those short selling… that once a BPO is ordered, a bank may likely counteroffer on price as the buyers are coming in too low for fair market value sustained prices.

Whether you are looking to sell or buy, now is the time to once again use increased scrutiny when placing an offer or accepting an offer. It appears that we are once again riding another bubble that may likely burst if inventory is set loose.

Stay tuned for 2013 1st Quarter results.



The Wall Street Journal has reported that the Rising Prices of Homes has drastically shrunk the ranks of Underwater Borrowers”.  Source:  The Wall Street Journal  February 25, 2013.  To read the full article click the following link: floating on a life preserver.

In fact, according to the Article, and citing from reports by Zillow, “around 2 million homeowners moved back above water last year”.

So what does this mean for our South Florida market.  Well, what once was considered a short sale, may in fact now be a regular sale.  Sellers that were forced to sell their homes because of trouble making mortgage payments due to either having entered into subprime loans, adjustable interest rate mortgages and fast approaching balloon mortgages, may now have equity. This equity translates into the ability to refinance their home and take advantage of  low mortgage rates OR sell their home and make a profit.

“While the looming release of shadow inventory is expected to affect prices and perhaps “burst the bubble” once more, South Florida home owners can take advantage of the rise in prices to set their objectives in place”.  Jacqueline A. Salcines, Esq, real estate attorney.

Now is the time to consult a real estate expert to find out what your home is worth and decide whether to sell the home or refinance.  In reality, nobody knows how long this new bubble is going to last and one might as well take advantage of the life preserver.