When you refinance your home, you’re actually putting a new mortgage on your house and paying off the old mortgage. Most people refinance to take advantage of great interest rates, to borrow money to make home improvements, or to purchase something by taking equity out of your home.
But do you know who is handling your closing? And why that should matter to you?
It’s important that you choose who handles your closing. The large mortgage companies that advertise on TV – like Quicken Loans or Rocket Mortgage, for example – may have great rates and customer service, but they don’t have someone local who will work on your case. Instead, they hire someone in your area who is local and licensed, but that person doesn’t know anything about your case until they are handed the paperwork before your closing.
What happens if you have a detailed question during closing? What if you don’t understand the paperwork and the terms of the new mortgage?
This is why it is so important for you to choose who handles the closing when you refinance. Choosing Foote Title Group means you’ll have a local advocate who will be involved in your refinance. Your agent can answer your questions and will know the details of your situation. We’ll be in touch with you throughout your refinance.
We can also help you go through the title search process again. Why do you need a title search on your refinance? We want to make sure there is nothing in your title that you don’t know about or that a new lien hasn’t been recorded since your last title search. Foote Title Group will do the legwork behind the scenes to make sure your ownership is secure and protected. It’s important to know if your title isn’t clear, even though your title insurance won’t change. It protects you as long as you own the property.
Choosing your own title company means you work with someone you trust, someone who can understand your paperwork and explain things to you. And, like the contracted title agent a national mortgage company would hire, we can come to your home for closing. We will go most anywhere in the Maryland and Virginia area, and if we’re not able to get to your location, we can recommend someone we trust to you.
As you probably know, education is one of my major goals with this blog and our social media. I think, unfortunately, that the title industry is not very good at educating consumers. I am passionate about making sure you understand what you’re doing and that you’re protected throughout the closing process. My job is to insure your ownership. Information is out there, and I hope you know that you can ask me any question you have about closing your refinance.