Legal Question in Real Estate Law in New York
time limits
I am in process of refinancing of my mortgage. I want to know how mach time in advance I have to have all documents (be signed at closing) for examination. Should I receive documents not later than 48 hours before closing? Should I have documents 1 hour before closing time? What is time frame according to the Law.
Asked on 12/05/02, 3:56 pm
1 Answer from Attorneys
Lisa Breier Urban
Breier Deutschmeister Urban & Fromme
Re: time limits
The mortgage documents are usually presented to the borrower at closing for review. You can contact the bank attorneys in advance and request copies of the documents to review prior to closing. Additionally, since this is a refinance, you have a 72 hour window before funding of the loan for recision. In other words, you have three days to change your mind after closing.
Answered on 12/06/02, 11:16 am
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