The short answer: Yes.
Refinancing your mortgage is one of the best and most effective ways to save money. If you are considering refinancing or increasing your mortgage, you will need to consult a lawyer. While there are several financial institutions that offer refinancing services, a competent real estate lawyer will take all the necessary steps to ensure that you and your bank are provided with a timely and properly registered mortgage when required.
In the case of a mortgage renewal, a lawyer is not required but is strongly advised for increasing your existing mortgage and/or discharging the former mortgage.
How a Lawyer Can Help
While it’s possible to refinance on your own without legal assistance, seeking the help of a real estate lawyer may help you avoid costly refinancing schemes. These scams, which typically target homeowners who are facing foreclosure, usually require an upfront fee or offer misleading information about their costs and fees associated with refinancing. Therefore, a lawyer can help determine if your refinancing offer is legitimate, saving you from bigger financial problems in the future.
In addition to reviewing the terms and conditions of your mortgage, a real estate lawyer can also provide these services:
- Registering a new mortgage
- Conduct a title search to ensure no claims or charges have been made against your property
- Facilitate financial transactions between you and the lender
For reliable real estate law services, get in touch with our team at Simard and Associates by calling 613-446-5060 or submit a form online.