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Author Topic: mortgage refinance question
Member # 11535

 - posted      Profile for RivalOfTheRose           Edit/Delete Post 
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!

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Member # 7536

 - posted      Profile for DarkKnight   Email DarkKnight         Edit/Delete Post 
I would get someone specializing in mortgages to look over this paperwork.
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Member # 2859

 - posted      Profile for fugu13   Email fugu13         Edit/Delete Post 
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.

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Member # 5633

 - posted      Profile for Jhai   Email Jhai         Edit/Delete Post 
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.
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Member # 11820

 - posted      Profile for Traceria   Email Traceria         Edit/Delete Post 
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 clueless...now I work as a foreclosure paralegal and look at mortgages and things all day.

(edited to fix typo)

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