Get Expert Legal Assistance for Your Real Estate Needs: Hire a Top-Rated Real Estate Lawyer in Scarborough Today?

The process of purchasing or selling real estate property in Scarborough can sometimes be overwhelming.  All the paperwork and legalities need to be completed before there can be a transfer of ownership. Roberts & Obradovic Law has a team of real estate lawyers in Scarborough that can help you with the purchase or selling of your real estate property. 

At Roberts & Obradovic Law, we recognize that effective communication is vital for a successful real estate transaction. We understand that the process of buying or selling a property can be complex and daunting, and it’s crucial to ensure that all parties involved have a clear understanding of the transaction’s terms and conditions. For this reason, our law firm is committed to keeping our clients informed throughout the real estate process, providing them with detailed information and answering any questions they may have. We believe in building a productive and trusting relationship with our clients, which is why we prioritize open and transparent communication in all our interactions. 

Roberts & Obradovic Law Real Estate Services in Scarborough

What is Mortgage Refinancing?

Mortgage refinancing is the act of breaking your current mortgage and obtaining a new mortgage from your lender. Here are some of the reasons why someone may want to refinance their mortgage: 

• Extending the term of payment. If you want to pay less every month, you can opt to refinance your mortgage by extending the duration of the loan. Doing this will allow you to pay less but for a longer period of time. For example, if the loan is payable within 15 years, you can extend it to 30 years. Here, the loan is spread out, which makes you pay less every month. 
• Fixed-rate loan. Mortgages with variable rate are often lower than fix-rate mortgages. However, it can be risky since interest rates may increase during the duration of your loan. Refinancing your mortgage from an variable-rate to a fixed-rate can help you stabilize your finances and pay the same monthly fees during your loan. 
• Pay off the loan faster. You can also decide to shorten the term of the loan, which allows you to pay less overall interest. Doing this will, often times, require you to pay off a large amount of the loan before you can shorten the term.
• Cash-out Refinance. As your home mortgage matures over time, the equity on your home increases. A cash-out refinance is a type of mortgage refinancing in which homeowners take advantage of the increase in equity in their homes and take out cash in exchange for a larger mortgage. 

Mortgage refinancing is not aways the best option for every scenario. Before refinancing your mortgage, you should consider the benefits as well as the potential consequences. There are instances when refinancing your mortgage may do more harm than good due to the potential penalties by your mortgage lender. In these instances, it is best to contact a good real estate lawyer in Scarborough so you are aware of your legal obligations.

Why Choose Scarborough Real Estate

Scarborough, originally incorporated as a township in the 1850s, has undergone a significant transformation from a small rural area to a vibrant, multicultural community. Situated in the east of Toronto, this area offers a fantastic array of restaurants, parks, and entertainment options, making it an ideal location for those looking to explore and experience all that the region has to offer. The Scarborough Bluffs provide a beautiful park-lined suburban environment, offering an exceptional living experience.

Scarborough benefits from a robust transportation system, including GO stations and over 50 bus lines, which provides easy and convenient access to the area. Additionally, its close proximity to downtown Toronto makes it an ideal location for those seeking to enjoy the benefits of urban living without sacrificing suburban comforts.

Contact a Real Estate Lawyer in Scarborough

Whether you are purchasing, selling, or transferring ownership of a real estate property in Scarborough, our team of real estate lawyers in Scarborough can provide legal advice for your real estate needs. To learn more about how our law firm can help, contact us or call us at (647) 724-5179 today.