Understanding the rules to properly refinance and knowing whether that is the best option needs considered before making any decisions. This knowledge can be particularly important when considering a reverse mortgage or a special low-rate mortgage.
Our experienced and knowledgeable lawyers will help you smoothly navigate through your refinancing and help you get the best results to suit your needs.
- Prepare the required mortgage and related documents.
- Obtain a sub-search of the title.
- Review payout balances outstanding on your existing mortgage, or line of credit, and arrange for these to be paid upon receiving the refinance proceeds.
- Meet with you to obtain signatures on closing documents.
- Deposit the proceeds from the refinancing directly into your bank account (for any of the major Canadian banks).
- Provide you with a copy of the final report.
To ensure an efficient refinancing, please provide us with:
- The contact information for your mortgage or line of credit lender or broker.
- The bank and loan number for each mortgage or line of credit registered against the property.
- A copy of your most recent property tax bill
We also recommend that you speak with your mortgage lender to be aware of any pre-payment charges or penalties that may apply to refinancing your existing mortgage.