Legal Question in Real Estate Law in New Jersey

Re: Refinancing

Yes, the home is usually required to be re-appraised and must usually be appraised at a value so the loan amount is traditionally not more than 80% of market value.

Attorneys can assist in negotiating the loan, plus handle the title work required and be sure the closing goes well and that all documents are correct and proper.

Expect the attorney fees to be about $500 if the closing is held in his office and not at the bak or mortgage company.

Many lenders do not require independent attorneys (they use their staff personnel), but it is recommended that you have your own personal attorney who is protecting you, not working for the lender.

If you have any further questions, you can call me at (973)-377-3313

Walter LeVine