Closing your refinanced mortgage is almost exactly like closing on your home, often with one important difference. The right of rescission usually applies to refinances. This gives the borrower three days after the closing to make sure that the refinance is the right financial transaction for them. After the three day rescission period closes, the refinance funds will be disbursed.
Typically, you'll meet at the office of the attorney representing your lender.
Among the people you may see around the table are:
Over the course of approximately an hour or so, you and your lender will perform all of the following tasks:
At the closing, you'll review, sign, and/or initial the following documents: