The Question: “We refinanced and the escrow company stated they recorded 11/21, however, the next few days were the Thanksgiving holiday, so the wire did not get sent to the bank for payoff until 11/26. We paid double interest from 11/21 to 11/26 and escrow said it is theirs to keep. Is that correct? Also, […]

Going through a refinance is usually stressful for most people but add to that the fear of negative repercussions should you decide not to close. It is important to take seriously signing any document especially in the world of real estate, however, you do legally have the ability to cancel all the way up to […]

Here is the question: My husband and I are trying to refinance the house I owned with my ex-spouse. Salary and credit were approved for the loan. The appraisal is fine. My husband still has a mortgage with his ex. The decree states that she is responsible for the house payment and was due to […]

The question… Our uncle died a few weeks ago and he quit claimed a deed to us for some property. It is a conventional insured mortgage. Will we have to refinance the mortgage or can we just assume it? We have been living in the home for 1 1/2 years and have made the payments […]

The question. Does the right to cancel apply when you refinance your loan with your existing lender? We are doing a no cash-out refinance (aka rate and term refinance) with our existing lender to a lower interest rate. We are not borrowing any additional funds and are paying for all closing costs by certified check […]

The question… I am refinancing my first mortgage with no cash out. I have a second mortgage equity line of credit and my first mortgage holder will not refinance unless I reduce my equity line amount from $21,000 to $5,800. My remaining balance on my first is $55,000. I have already re-subordinated the second mortgage. […]

The question… I am in the process of refinancing my house into a lower interest rate and taking out the equity. The title search listed a lien from Mellon Bank. This was a line of credit loan taken out in 1992. In 2001 we filed bankruptcy & Mellon Bank was notified of the bankruptcy. The […]

I will reprint the whole question as asked: Can I refinance the house and get the formerly joint mortgage in just my name without any additional paperwork? I am getting divorced and have a quick claim deed on my home from my former spouse. I live in Florida. My answer: Yes, the “Quit Claim Deed”…not […]

Here is the readers question… We have Wachovia as our lender. We have to stay in our loan until another 10 months or we get hit with a $5,000 fee. I was wanting to refinance b/c we have 2 loans, one for $19,??? and the other for $78,???. Our payment is $916 a month and […]