No Lawyer Needed For Refinance

Added August 27, 2006 by Ilyce R. Glink

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Summary: A loan officer told a home buyer that he does not need to use a lawyer when refinancing a mortgage. Using a lawyer is not mandatory, but if you do not understand the documents you're signing, you'd be wise to show them to a real estate attorney who can walk you through the various disclosures lenders are required to make, and the jargon they use to make them.

Q: I am about to refinance my mortgage with a well known bank.

The bank's loan officer told me I did not have to hire an attorney to go over the documents with me when refinancing my mortgage.

Is this true?

A: Yes, it's true. You generally don't need an attorney to refinance. But if you do not understand the documents you're signing, you'd be wise to show them to a real estate attorney who can walk you through the various disclosures lenders are required to make, and the jargon they use to make them.

Published: Aug 27, 2006

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