Refinancing a Mortgage? A Real Estate Lawyer Can Help

November 12, 2020 | Published by

In both residential and commercial real estate, it is crucial to get it right the first time when refinancing a mortgage. With our real estate legal services, our lawyers guide you through the refinancing process to ensure that your refinancing is a success.

In this blog post, we take a look at what refinancing is and how the real estate lawyers at Morris Law can help you refinance your mortgage.

About Refinancing a Mortgage

Refinancing a mortgage simply means replacing an existing loan with a new one. Refinancing can be beneficial to a real estate owner by helping them take advantage of a lower interest rate or consolidating debt. When deciding to refinance a mortgage, it is important to have an experienced real estate lawyer by your side to help you determine whether or not refinancing is the best option for you.

Refinancing a Mortgage with Our Real Estate Legal Services

When refinancing a mortgage, our real estate lawyers will contact your mortgage advisor and receive refinancing instructions from your lender to stipulate the terms of the mortgage and refinance. If you currently have an existing mortgage, we will contact your lender to obtain a payout statement. Once we have gathered all the necessary information, we can draft your refinancing documents that will need to be signed based on the terms provided to us by your lender. Signing for refinancing documents can be done at our conveniently located office in downtown Vancouver, or through a Zoom call.

On the day of completion, we will receive the refinance/mortgage proceeds. Upon receiving the proceeds, we can register the new mortgage on the title of your property, pay out the existing mortgage that is being replaced, and register the documentation that will discharge the old mortgage from the title of your property. Any additional money left over after the refinancing is completed will be provided either by a lawyer’s trust cheque or by direct deposit into the account of your choice.

Refinancing a Mortgage With Morris Law

If you are looking to refinance your mortgage, book an appointment for Morris Law’s real estate legal services. Our Vancouver real estate law firm is dedicated to providing friendly legal advice and courteous, timely service. Feel free to contact us for a consultation about your refinancing options.