This is topic mortgage refinance question in forum Books, Films, Food and Culture at Hatrack River Forum.

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Posted by RivalOfTheRose (Member # 11535) on :
we are looking into refinancing our mortgage withing the same company.

it drops us from 5.75 to 4.625, and Chase covers all of the closing costs.

do my wife and i need to get a separate attorney to look over this paperwork, or is it not something people normally do.

thanks for any insight!
Posted by DarkKnight (Member # 7536) on :
I would get someone specializing in mortgages to look over this paperwork.
Posted by fugu13 (Member # 2859) on :
If the terms for the mortgage are otherwise the same (fixed, length of remaining time, et cetera), you probably don't need a mortgage attorney.

Even if they're different, a CPA who knows mortgages is probably a better investment.

Most likely everything is fine. Banks are being very conservative about mortgages right now, so they aren't very interesting. Anyone they're willing to give a mortgage to generally should get a pretty good mortgage.
Posted by Jhai (Member # 5633) on :
Yeah, I wouldn't worry about getting a lawyer. We recently refinance through Wells Fargo, and didn't get a lawyer to check the paperwork - it was just a routine refinancing, after all. If you're going through a smaller bank/non-traditional company, or have odd terms, then you should consider getting a professional to look over the paperwork.
Posted by Traceria (Member # 11820) on :
Looks like sound advice. Unless things are being changed drastically, I wouldn't worry about finding an attorney or accountant to look over things.

About six months ago, I would have been I work as a foreclosure paralegal and look at mortgages and things all day.

(edited to fix typo)

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