Friday, March 4, 2011

What makes a company closures?

A company closure is a "notary" as commonly called in Latin America, where people notarizan documents such as house deeds, wills or other documents.

In these companies the people working processor closures, given the history of title to the property to be refinanced or sold.

We analyze how many loans are in it, which must be paid and so are the judgments that are in the house, which in turn should also be removed or canceled the title to perform any refinancing or sale of the house.

They often find loans or judgments that belong to previous owners and just have not been registered or not found in previous searches in these cases the processors above and contact the companies ask for a certificate of satisfaction or proof of payment and recorded in the court in each city that belongs to the house.

All these problems must be resolved before a refinancing or sale, and that when you add loans to purchase homes or housing used, it must be free of problems in the title.

So it's very important that companies do a good job closures, as this will determine the status of the history of the property.

If for some reason companies do not realize closing a problem with the title, the famous title insurance will have to step in and pay everything you owe or solve the problems that arise. It is therefore very important that you get purchases this insurance, which protects the loan that was produced and also the owner of the house.

It is also important when you are refinancing and are known to be a judgment or debt, make it known to the processor, since they are experts in solving these problems so we can make it easier and faster process.

If there is any doubt in any contract, closing companies are willing to help at all times and the important thing is that they have sufficient knowledge and training to guide you.

The company closures is independent of the lender, banks or institutions that lend money, precisely because it is more objective to find problems that may harm the property owners and our mission is to explain the documents signed in the time of closing.

Obviously the loan officer and you had to have explained the loan program on how to interest, penalties, fees, etc..

So next time you decide to buy or refinance a property and have doubts as to add or exclude someone from the title, or general questions, do not forget good advice with processors title or closing agents they are willing to help .

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