Miami Beach / Florida / United States
A Florida Home Mortgage Loan Refinance and Equity Lines of Credit are important and useful tools a property owner can use to help stabilize monthly expense payments and create a predictable budget for the future. Especially in the current volatile financial and job markets, known and predictable budget allows for more solid financial planning. Recent changes in the Florida mortgage lending markets has exposed the risky lending practices common in the past half decade. Lenders in this prosperous time period greatly relaxed the requirements to obtain home mortgages, including allowing borrowers to borrow over one hundred percent of their homes then current value. Additionally, many Florida home mortgage loan borrowers were encouraged, sometimes fraudulently, to take out loans with teaser rates, which would then adjust upward in a few years based on the current interest rate indices. Florida home mortgage loan borrowers were encouraged by the media, mortgage brokers and Realtors to assume two things: the value of their investment property would increase and they would easily sell it for a profit before the teaser rates adjusted upwards. Florida real estate market changes and fraudulent appraisals have unfortunately often resulted in home values decreasing and slow home sales. The practical answer for both Florida primary residence owners and Florida real estate investors is a Florida home mortgage refinance or equity line of credit. Florida Home Mortgage Loan Refinance The current home mortage loan refinance rates are some of the lowest in recent decades. Refinancing a current Florida home mortgage loan can be an effective way to avoid the high interest rates on adjustable rate loans, but borrowers must also be careful to avoid fraud by Florida home loan mortgage companies. When you choose South Pointe Title Company as your closing agent, you know your closing agent is working for you, and you will not be the victim of mortgage fraud. South Pointe Title Company offers friendly, local, affordable services, and is a full service loan closing agent for refinances. It is important to choose your own closing agent, even for a refinance, or a lender will refer its borrowers to the title companies of its choice, which are often owned in part by the lender, leading to a legal conflict of interest. The experienced friendly staff at South Pointe Title Company will look out for your interests and review your Good Faith Estimate and other lender forms, and discuss all the standard lending industry fees and rates. This means you as a buyer are comfortable at closing knowing how much you are paying and why you are being charged the fees. South Pointe Title Company is located in the offices of Folland & Associates, LC, a full service real estate law firm, owned and operated by Christian N. Folland, Esq., a Florida Bar Certified Real Estate Attorney. We are a neighborhood business. Many of our clients are through word of mouth and repeat business. Our goal is to protect our local and out-of-state clients while guiding them through their florida home refinance. Equity lines of credit are similar to home mortgage loan refinancing, but do not involve paying off the borrowers current home mortgage. Equity lines of credit are usually secured by a second home mortgage on the borrowers residence. Transferring high interest credit card or car loan debt to an equity line of credit is a practical way to manage necessary debt with a low interest rate and reasonable payments. Equity lines of credit have special lending terms which are much different than the terms of a normal home loan, and must be reviewed very carefully. Borrowers must protect themselves because mortgage fraud is common with lines of credit and can result in foreclosure. When you choose South Pointe Title Company as your closing agent, you know your closing agent is working for you, and you will not be the victim of mortgage fraud. It is important to choose your own closing agent, even
