Real Estate Settlements in Washington, DC and Maryland; A Stress-Free Settlement

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Thinking About Refinancing?

Today's refinancing decision has more to do with how long you expect to own your property than with the "old rule" of only refinance if you can lower your rate by one full percentage point.  To decide whether it pays to refinance in today's fast-paced financial markets you need to calculate the savings generated by that refinancing versus the costs of that refinancing.

For example*: assume when you bought your home you you originally borrowed $100,000 for 30 years at 9% interest.  Your current payment of principal and interest is $805 per month. If today you can borrow money at 7% your monthly payment of principal and interest would be $666.  You would reduce your monthly payment by $139. If the transaction costs equaled $2,000 those costs would be recovered in 15 months.   Thus, If you planned on owning the property for more than 15 months it would make economic sense to refinance. *All numbers are for illustrative purposes only.    

Jacobs & Associates provides the following services:
bulletTitle Search/Examination/Arrange Lender's Title Insurance - We arrange with title abstractors to search all relevant records to determine the state of title on the property. We examine the search and if necessary will take action to clear up title defects as required by your lender. 

 
bulletPrepare/Review Loan Documents We will review the paperwork prepared by mortgage brokers/lenders. 

 
bulletPayoff your existing Mortgage(s) - We will contact your existing mortgage lender(s) to obtain payoff information and will arrange to pay off those loan(s). We also make sure that once paid off that releases of those liens get recorded in the appropriate office so that no clouds will remain on your title.

 
bulletArrange for Survey of Property -  If necessary, we will arrange for site location survey.

 
bulletEscrow Agent - We will collect, hold and disburse all funds required to complete the transaction.

 
bulletPrepare and Explain Settlement Sheet - All settlement agents will prepare a settlement sheet, we not only will prepare it but  will fully explain each and every item on it so you will know what your costs are BEFORE reaching the settlement table. All our settlement statements: fully comply with the latest Housing and Urban Development Real Estate Settlement Procedures Act (RESPA) regulations, are generated by computer, and are presented in a clear format. 

 
bulletWe are available to answer all Frequently Asked Questions (FAQs) and handle all last minute surprises.

Please let your Loan Officer know that you wish to put Jacobs & Associates' Stress-Free Settlements to work for you!

 

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Copyright © 2009 Harvey S. Jacobs, Esq. -- Stress Free Settlements is a ServiceMark of Harvey S. Jacobs all rights reserved.
Last modified: February 26, 2009