Central Florida Mortgage Attorneys
Mortgage Law and Procurement of Mortgages
Webb, Wells & Williams also practices in the field of mortgage law and is also an agent for Attorneys Mortgages Services, Inc. which provides residential mortgages at rates that are typically lower than any other mortgage provider. Attorneys' Mortgage Services is an organization set up to help support and foster tfhe development of Mortgage Law. Mortgage Law is a sub practice of the real estate legal profession in which a knowledgeable attorney uses his or her expertise to guide and protect the client through the mortgage process.
Mortgage Law
Mortgage Law is an emerging area of law which has already been acknowledged by the Bar Associations of six states (FL, SC, GA, NC, TN and AL.) Mortgage Law is a sub practice of the Real Estate Law profession in which knowledgeable attorneys use their expertise to guide and protect clients through the mortgage process. Consumers benefit from the counsel of a Mortgage Attorney in many ways.
Understanding
Disclosure is not the same as understanding. When applying for a mortgage loan, the government requires that the lender provide a number of legal documents to ensure the borrowers understand the different options and costs. The large number of documents contain terms like APRs and Yield Spread Premiums and make the process all but impossible to understand, benefiting the loan officer. A Mortgage Attorney will explain these terms in order to educate the Consumer throughout the mortgage process.
Representation
Loan officers do not represent the borrower's best interest. Loan officers are independent contractors and do not have the duty to protect consumers. As a result, the client is often overcharged or forced to pay a higher interest rate than necessary.
By contrast, a Mortgage Attorney legally represents the borrower and is required to put their client's interests first. Clients gain protection, peace of mind and counsel they can TRUST.
Commission Free Advice
Borrowers traditionally look to the loan officer to guide them through the mortgage transaction. However, most Consumers are unaware of the variety of loan programs and that different loan programs pay varying amounts of commission to the loan officer. Many times the advice Borrowers receive is based upon the commission paid to the loan officer.
A Mortgage Attorney cannot receive any monies, including commissions, from the lender. Advice is based solely upon the client's best interests.
Cost
Even the most experienced consumer is unacquainted with the true cost of a mortgage. Loan officers earn extra fees by "selling" the loan to the Borrower at an interest rate higher than necessary. These extra fees are called the Yield Spread Premium and can average between $1,000 and $2,500 per mortgage transaction. The lender (or broker) receives the Yield Spread Premium after closing, and the Borrower is usually unaware this transaction takes place.
By contrast, a Mortgage Attorney returns the financial control to the client. With the benefit of counsel, Borrowers can make an informed decision regarding their money. They can either apply the Yield Spread Premium to closing costs or use the YSP to receive a lower interest rate.
It is your money. You should decide how to spend it.
Attorneys' Mortgage Services is divided into two practice groups. The first is an education and training department set up to teach the basic principals of the mortgage industry. The second is a Mortgage Banking firm which operates in Florida, Georgia, Alabama, North & South Carolina and Tennessee.
Please contact the Bradenton/Sarasota Mortgage Attorneys for the current rates
If you have any questions about mortgage transactions, please contact the Central Florida mortgage lawyers at Webb, Wells & Williams. Our Bradenton/Sarasota lawyers can be reached by phone at (941) 778-7054, by e-mail, or by filling out the in-take form on our Contact Us page.
Webb, Wells & Williams, P.A.
Orlando Area
280 Wekiva Springs Rd - Suite 2090 - Longwood, FL 32779
| Phone: (407) 865-5600 | Fax: (407) 865-6495 |
E-mail
Bradenton/Sarasota
P.O. Box 1849, Anna Maria, FL 34216
3909 East Bay Blvd. - Suite 115, Holmes Beach, FL
| Phone: (941) 778-7054 | Fax: (941) 778-5934 |
Webb, Wells & Williams represents clients throughout central Florida, including Orange County, Osceola County, Seminole County, Lake County, Brevard County, Polk County, Hillsborough County, Pinellas County, Manatee County, Sarasota County, Charlotte County, Anna Maria Island, Longboat Key, and the cities of Orlando, Kissimmee, Sanford, Tavares, Bartow, Clearwater, Bradenton, Sarasota, Tampa, Titusville, Altamonte Springs, Winter Park, Holmes Beach, Bradenton Beach, Anna Maria, Palmetto, Longwood, DeLand and Daytona Beach.
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