Refinancing is something that many homeowners consider at one time or another. In a basic sense, refinancing a home mortgage means taking care of the current loan payments and acquiring an alternative loan with more favorable terms. There are a variety of circumstances that lead property owners in Atwood and throughout the Inland Empire to engage in the refinancing process. Many of these individuals are looking to obtain new loans with reduced interest rates and better conditions for repayment. Still others refinance because they want to take advantage of built up home equity or shorten the span of their mortgages.

Those that have gone through home refinancing will tell you that the process itself can be quite intricate and prove somewhat tricky at times. Indeed, when first considering this option, many homeowners ask themselves the following question: How does escrow work when refinancing a house in Atwood? If you’re considering refinancing your home, we truly believe that it is best to use the services of knowledgeable and dependable escrow officers that can explain the process in detail and then help make certain that all of the moving pieces involved are taken care of correctly and in a timely manner. With our in-depth experience and commitment to exceptional service, there is no better Atwood refinancing escrow company around than Inspire Escrow Services.

Inspire Escrow Services informed homeowner how escrow works when refinancing a house in Atwood, CA.

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What is the Atwood Home Refinance Escrow Process?

The escrow process for refinancing a home in Atwood can begin in earnest as soon as you, the homeowner, and the second lender have completed establishing the specific terms and conditions of the new mortgage. The new lender uses escrow to disburse funds to the old lender in order to complete payment on the existing mortgage. It is important to remember that once you have submitted the forms for refinancing, you have no more than three days to reverse course and prevent the new mortgage from moving forward. Therefore, it is best to think hard about whether it is truly the right move for you to refinance prior to getting the wheels in motion.

As a professional escrow company, our first order of business is to furnish the new lender with a formal request for funding. It is the duty of your new lender to make sure that all of the necessary funds are wired into the escrow account. As soon as that is taken care of, we work in conjunction with the title company to get the previous lender the required payment from this escrow account.

Inspire’s ultimate goal with Atwood refinancing escrow is to get the entire process finished as quickly as possible while still being thorough and accurate. Time is of the essence when you move to refinance a house, as homeowners are held responsible for paying interest for both mortgages (old and new) up until the point when the prior loan has been paid off in full. As soon as the previous lender confirms that they’ve received payment to satisfy the mortgage, we are able to let the county recorder’s office know about the alternate mortgage and officially finish the deal.

Top Escrow Company for Refinancing in Atwood – Inspire Escrow Services

As mentioned above, time is a critical factor in regards to Atwood refinancing escrow. Thankfully, our escrow officers have the knowledge, skill, and professionalism required to manage the process from beginning to end, and can usually get it done in a little bit more than a week’s time. We understand that the last thing you want to have to deal with in all of this is spending money on two mortgages because the process is taking longer than anticipated. That is why we make escrow work for refinancing a house in Atwood better than any other company nearby. It is our mission to help you get the best possible deal while also making sure that everything moves according to plan. Inspire will assist you in taking care of all required documentation, and will manage any and all concerns that come along.

With our comprehensive and cost-effective escrow services, we make sure that nothing is neglected. Having clear and consistent communication is also fundamental to how we work. Our escrow agents respond quickly to client messages while making certain that all parties in the transaction have an understanding of the process instructions. As a professional escrow company serving Atwood, we adhere to all guidelines and regulations and note the actions taken at each step. We take our responsibilities with the seriousness they deserve, and work hard each day to offer top escrow services for all clients. If you would like to learn more about how the refinancing escrow process works, and our ability to handle transactions efficiently, please do not hesitate to contact us online or call our office at (909) 698-4805.