Refinancing can certainly be a cost-effective way to access capital for a homeowner, particularly if you are benefitting from a lower interest rate or trying to free up equity to be used for renovations or to put towards your children’s education.

YYC Lawyers will help you with the steps needed to move through this process with ease and the following are some of the steps we take, followed by some of the items we require from you to help us ensure a smooth closing:

• We prepare the required mortgage and related documents;
• We obtain a sub-search of the title;
• We review payout balances outstanding on your existing mortgage or line of credit, and arrange for these to be paid upon receipt of the refinance proceeds;
• We meet with you to obtain signatures on closing documents; and
• We provide you with a copy of the final report letter.

In addition to some of our steps listed above, in ensuring a smooth closing process for you, we also ask that you please provide us with:

• Your contact information to your mortgage or line of credit lender or broker;
• The bank and loan number for each mortgage or line of credit registered against to the property;
• We 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
• A copy of your most recent property tax bill.

We look forward to closing with you.