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Refinancing: Frequently Asked Questions

Woman with penWho attends settlement?

At a refinance settlement usually only the borrowers and our attorney or settlement officer are present.

What if I cannot attend settlement?

In certain circumstances, a "power-of-attorney" can be prepared for you. A "power-of-attorney" is a legal instrument which allows another to sign legal documents on your behalf. Please give one of our attorneys or settlement officers a call to see if this is an option that would work for you.

Who does Peak Settlements represent at settlement?

In a refinance closing, we are there to follow your lender's instructions and to explain the documents to you and verify that they are properly executed.

How long will the settlement take?

While the time of a settlement can vary greatly, typically a refinance will take between 30 minutes and an hour.

When can I find out how much money I need to bring to settlement?

Because we rely on third parties such as lenders to provide us with instructions, information, and figures for your settlement, we often can not furnish to you the exact amount you need to bring to closing until the day before, or, sometimes, even the day of settlement. However, you should be able to rely on your lender's or your realtor's good faith estimate for the approximate amount of money you need to bring with you. If you happen to bring too much money to settlement, we refund back to you any excess amount upon completion of the closing.