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Old 01-21-2009, 08:33 AM
 
4 posts, read 10,811 times
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We are currently refinancing and confused about whether to use lawyer or title agency for the paperwork. We are told we can use either but I called the original title agency for our mortgage and they said we need to contact the lawyer first! Anyone use only a title agency? Thanks.
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Old 01-21-2009, 09:27 AM
 
Location: Stewartsville, NJ
7,577 posts, read 22,602,088 times
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Quote:
Originally Posted by NJmom123 View Post
We are currently refinancing and confused about whether to use lawyer or title agency for the paperwork. We are told we can use either but I called the original title agency for our mortgage and they said we need to contact the lawyer first! Anyone use only a title agency? Thanks.
Not on a refi but with my current mortage - I had an attorney but the title agency ended up doing the closing. No real issues... just read between the lines - make sure it's a fixed rate..make sure that there's no pre-payment penalty, etc. In my opinion...lawyers are just paper pushers... treat closings like "milk money" and really don't do a whole hell of alot for you anyway...
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Old 01-21-2009, 09:33 AM
 
Location: Vermont
5,439 posts, read 16,857,672 times
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After hiring a lawyer for our home purchase and re-finance (we are supposed to be closing today and I feel totally out of the loop... despite faxes, emails and phone calls to everyone) I doubt I would hire a lawyer for a home purchase or refinance again. It seems like the lawyer is just another person to have to try to extract information from rather than getting it directly from the horses mouth.
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Old 01-21-2009, 09:39 AM
 
Location: Stewartsville, NJ
7,577 posts, read 22,602,088 times
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Quote:
Originally Posted by joe moving View Post
After hiring a lawyer for our home purchase and re-finance (we are supposed to be closing today and I feel totally out of the loop... despite faxes, emails and phone calls to everyone) I doubt I would hire a lawyer for a home purchase or refinance again. It seems like the lawyer is just another person to have to try to extract information from rather than getting it directly from the horses mouth.
NJ law...you must have an attorney for the purchase. Not true with a refi.
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Old 01-22-2009, 04:48 AM
 
Location: The Beautiful Pocono Mountains
5,450 posts, read 8,760,111 times
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Quote:
Originally Posted by wileynj View Post
NJ law...you must have an attorney for the purchase. Not true with a refi.

Wiley,
I heard (and know when we purchased ours years ago) that you don't have to have an attorney.
Has this changed? Do you have to have one now? That's a shame. I feel the same as you and others, I wouldn't get one. He did nothing for us. I did the leg work and they just typed up papers. And not accurately, might I add. The interest rate and terms were wrong and that delayed us when all parties were there on closing day. It was a mess!
I really hope this hasn't changed. I wouldn't get one because I felt like I was paying someone else so I could be stressed and work. I could do all that without forking over a fee!
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Old 01-22-2009, 05:23 AM
 
Location: NJ
12,283 posts, read 35,681,591 times
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For a refi, just go with the Title Agency.
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Old 01-22-2009, 05:51 AM
 
Location: Vermont
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OK I take back all the nasty things I said ha ha.

we are done - the difference (for us) between lawyer and title agency was only 200 bucks. could be worth it for someone who should have your interests in mind.
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Old 01-22-2009, 06:03 AM
 
Location: Stewartsville, NJ
7,577 posts, read 22,602,088 times
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Quote:
Originally Posted by joe moving View Post
OK I take back all the nasty things I said ha ha.

we are done - the difference (for us) between lawyer and title agency was only 200 bucks. could be worth it for someone who should have your interests in mind.
I think so... now you at least have someone to go back after if they screw up
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Old 01-22-2009, 06:15 AM
GJM
 
465 posts, read 1,879,979 times
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When we purchased our lst. home we used the title agency. After that we used a lawyer.

Any time we did a refi. we only used the title agency, and never had any problems.
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Old 01-22-2009, 06:24 AM
 
1,983 posts, read 7,516,551 times
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Quote:
Originally Posted by wileynj View Post
NJ law...you must have an attorney for the purchase. Not true with a refi.
Not true for a purchase either unless it is a brand new law. It's a good idea to use an attorney for a purchase but it is not required on a purchase. Title company is fine for a refinance.
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