You may wish to reﬁnance an existing home to take advantage of changes in interest rates, to unlock some of the equity on your home, or to reduce your monthly cash ﬂow requirements.
Generally speaking, reﬁnancing involves arranging mortgage reﬁnancing with your bank or lender. Your lawyers will perform these tasks:
- prepare required mortgage documents for your lender(s);
- search the title of the property, if necessary;
- obtain bank and account statements, payout values, and administration fees;
- obtain title insurance; and
- arrange for closing, signatures of parties and release of funds