Mortgage rates are at an all time low. Some mortgage lenders are even coming up with creative ways to refinance, including 12 year mortgages and zero cost refinances.

In a refinance, a mortgage lender will typically loan up to 80% of the fair market value of your property. That means that whatever the mortgage balance you have today is, the value of your property is what will be the determining factor as to whether you can refinance or not.

In a refinance, the current mortgage loan is cancelled and replaced with a new loan. The reasons for refinancing are to get a better interest rate, better mortgage terms, remove someone from a mortgage or to cash out on the value of the property, so that you can make necessary repairs or even pay off credit card debt. The bank does not limit what you can do with the additional monies and often times borrowers can even use it to purchase other real estate.

In order for a refinance to make sense however, the amount you save, over the life of the loan should be greater then the closing costs associated with the refinance.

Title Companies in South Florida are required by law, to give you a reissue credit, or a reduced fee off the title insurance premium, on a refinance. While many borrowers arent even aware they have the absolute right to choose their own title company to handle the closing, they often allow the bank to choose it for them, which results in higher fees and costs at closing and no reissue credit.

At the Law Offices of Jacqueline A. Salcines, PA we are full service title company. We can handle your refinance from beginning to end and make sure that your fees and costs are not only reduced to a minimum, but that your reissue credit is honored. This can result in thousands of dollars in savings for you.

Call the Law Offices of Jacqueline A. Salcines, PA for all your mortgage and refinance needs. We are here to help and come with over 21 years experience in the mortgage and banking industry. The first consultation is always free of charge.


Jacqueline A. Salcines, Esq.

Jacqueline A. Salcines, PA

706 S. Dixie Highway

Second FLoor

Coral Gables, FL 33146

Tel: 3056695280