The escrow process for refinancing a home in Villa Park 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 Villa Park 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 Villa Park – Inspire Escrow Services
As mentioned above, time is a critical factor in regards to Villa Park 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 Villa Park 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 Villa Park, 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.