Mortgage Closing: the Last Step in the Home Buying Process

Closing your mortgage on a new home is a very exciting process, and a Massachusetts real estate closing attorney gavel and booksMassachusetts real estate closing attorney can help you make sure it goes smoothly. The closing process is usually the culmination of many months of stress and hard work, and you do not want to jeopardize getting the keys to your new home because of preventable legal complications. The more you know about this process, the more likely it is to go smoothly.

What Is the Mortgage Closing Process?

Closing is the last step in the home buying process. At closing, ownership of the house or property will officially be transferred from seller to buyer, and the buyer will execute a mortgage (deed of trust) to the bank or finance company. The closing may take place at the title company or at your attorney’s office, and you will sign several important documents to complete the purchase. These documents will include:

  • HUD-1 Settlement statement: this is an itemized list of the fees charged to you for your loan and applies to all mortgage purchases
  • Truth in Lending Statement: this document will detail the terms of your loan include interest rate and the terms and conditions for the mortgage.
  • Mortgage or deed of trust: the mortgage is your promise to turn the home over to the finance company if you are unable to make the payments.
  • The “note” that secures your promise to pay on the mortgage.

Do I Have to Use a Massachusetts Real Estate Closing Attorney During the Closing Process?

It is usually not required to use an attorney, but a Massachusetts real estate closing attorney can provide peace of mind. Throughout the home buying process you will have to deal with title insurance companies, finance companies, appraisers, home inspectors, real estate professionals, and many other parties. This can be a daunting process, especially for first-time buyers. As your Massachusetts real estate closing attorney, our job is to serve as a disinterested party who will protect your investment and make sure you fully understand your rights and responsibilities.

Contact Our Massachusetts Real Estate Closing Attorney

Whether you are just starting to consider buying a new home or you are in the last steps of the purchase, a Massachusetts real estate closing attorney will be a valuable resource. At The Law Offices of Alan H. Segal we are well-versed in the closing process and are here to help. Call our office today for an evaluation of your mortgage closing plan. We may be reached at (781) 444-9676.



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