refinance: Closing Costs for a Real Estate Closing in Connecticut - Get A Quote! - 11/03/11 03:33 AM
Connecticut has historically been an "attorney" state meaning that attorneys are the ones performing real estate closings.  Once upon a time this was all closings, purchase, sale and refinance.  It is still true for purchase and sale, but for refinance in many cases the attorney has been replaced by a "title company."  This is sometimes the actual title insurance company, i.e. First American or Chicago Title or one of the other national title insurance companies, and it is sometimes a title company that in fact is an "escrow agent" or "title agency" or "settlement agent" from out of state.  In many states, it is … (0 comments)

refinance: Real Estate Appraisals - essential to every real estate transaction - - 09/26/11 02:23 AM
Almost every Connecticut real estate closing involves getting an appraisal done on the house being purchased or refinanced.  The appraisal is ordered by the lender, but paid for by the borrower as a closing costs.  A basic understanding fo the appraisal process is very important if you are selling, buying or refinancing a piece of reale state in Connecticut,  The appraisers are licensed by the State of Connecticut and have to pass licensing and continuing education requirements.  However the reality is that appraisals are very subjective, more "art" than "science."  Different appraisers will come out with different appraised values for the same … (0 comments)

refinance: Freddie Mac to Eliminate Streamlined Refinance to 95% LTV? - 01/20/11 12:58 AM
According to this report http://www.dsnews.com/articles/freddie-mac-releases-new-guidelines-for-refinancing-and-underwriting-2011-01-19 Freddie Mac is issuing new underwriting guidelines for loans that close after May 1, 2011 that will among other things eliminate the "streamlined refinance" which allowed existing Freddie Mac borrowers to refinance up to 95% LTV and to roll in closing costs.  I am not sure how much this program was used, but it was one of the few out there that made sense to me.  Freddie Mac already owned a loan on a house that was in the vicinity of the same LTV or even higher, why not allow their current borrower to be able … (3 comments)

refinance: People are Refinancing their Mortgages again! Closing costs? - 08/17/10 02:54 PM
Not that this is news to anyone, but rates are amazingly low and staying low!  People who can (equity and good credit) can get amazing rates.  But you still have to pay closing costs.
I have written about this before, but it amazes me that people refinancing try to save a few dollars on their closing costs here in Connecticut and do not use an attorney.  When you compare the charges by a so-called title or escrow company (none of which to my knowledge are based in Connecticut) with what a local attorney (i.e. me!) charges, In many cases I actually … (3 comments)

refinance: Do I need an Attorney for my Connecticut Mortgage Refinance? - 01/08/10 01:36 AM
While the topic of this blog post is titled "Do I need an Attorney for my Connecticut Mortgage Refinance?"  the better question is not if you NEED an attorney for your mortgage refinance in Connecticut, but SHOULD an attorney do your mortgage refinance closing?  Of course as a CT attorney performing many mortgage refinance closings, you may consider my answer biased, but I say why would you NOT want an attorney to do your closing?
Answers people may give are expense and/or convenience.
Based on my own experience, the answer to both questions is that the attorney is usually no more expensive … (0 comments)

refinance: What are the Typical Closing Costs on a Connecticut Mortgage Refinance? - 10/08/09 02:38 PM
With mortgage rates at new lows, people all across Connecticut are once again applying for and closing on refinance loans.  Even with the drop in real estate values and the changes in the types of mortgages that are available, many people can and are refinancing.  With rates this low, now is the time to refinance your CT mortgage if you can!  But along with the rate and the other parts of your mortgage approval, a borrower should also consider their closing costs. 
Who does refinance mortgage loan closings in Connecticut?  Do I have to use an Attorney?
Historically in Connecticut, mortgage loans have been closed … (0 comments)

 
Paul Begemann (Attorney Paul H. Begemann)

Paul Begemann

Hamden, CT

More about me…

Attorney Paul H. Begemann

Address: 2764 Whitney Avenue, Hamden, CT, 06518

Office: (203) 230-8739

Fax: (800) 483-1904

Comments on real estate law, real estate closings, the Connecticut real estate market, mortgage financing, and other issues of interest.


Links

Archives

RSS 2.0 Feed for this blog