Refinancing your home can be a difficult task to navigate, which is why title companies like Southern Title are here to make the process a little easier. Whether you’re ready to start refinancing or are trying to decide if this action is the right step for you, we’re here to give you some information about what this process means.
When a homeowner refinances their home, their current payment plan will be reassessed. This can happen for several reasons. For instance, sometimes it is difficult for homeowners to meet the current mortgage payment, so they attempt to get lower rates over a longer time span. A home is often refinanced because of a divorce or other events that can impact finances or change ownership status. Or, the owner can now achieve lower interest rates, so they would like to have a plan that reflects that. Depending on your situation, refinancing may be right for you.
Our Role in the Refinancing Process
So, what do we have to do with the refinancing process? In many cases, when a homeowner wants to refinance, the lender will send us a notice so that we can confirm ownership. We allow this process to move forward efficiently so that the lender and the owner can benefit. We can also facilitate the transaction process and take on the role of an unbiased third party, ensuring smoother transactions.
Help with Title Changes
Additionally, title companies can help homeowners retrieve a new title after refinancing due to divorce or other circumstances that cause the homeowner’s status to change. In most cases, refinancing does not lead the owner to need a new title. However, this is the one exception, as the homeowner will want their title to reflect true ownership.
Protection for All Property Transactions
Our title insurance is designed to reduce stress around property transactions. When it comes to refinancing, mortgaging, selling, and buying, Southern Title of Mansfield, Wooster, and Sandusky, Ohio, is here to protect you — whether you’re a lender, buyer, or seller. If you’d like to learn more, please visit our website today.