Is is necessary to use an attorney for refinancing in NC?

Question

Getting ready to refinance and may use existing lender-Wells Fargo. Is it necessary and wise to use an attorney for refinancing?

This is our first time refinancing and Wells Fargo is telling us it’s not necessary but not sure that’s accurate. Any input would be appreciated.

Chris L. · Answer

Update, Completed our refinance in 2 weeks. Went with the same lender we had our original mortgage with and we negotiated fees down to match other offers.  The first person we spoke to said they didnt’ negotiate rates down so we called right back and spoke to a different person and they were able to negotiate rates down...This strategy has worked for us on many occasion. Sometimes it’s a matter of getting the right person on the phone. We did not use an attorney but instead the closing company had completed the title search and closed out the prior loan. We did not have to do an appraisal either.   Everything was streamlined, quick and easy for us. We asked the closing company to provide us a copy of all closing documents in advance so that we could read through them before the closing date to make sure there were no errors-ie made sure all info on the closing disclosure was correct , promissory note, deed of trust, initial escrow disclosure, right of recession, amount of funds needed for closing were correct also. It worked out for us but everyone is different. There were 100 +pages of closing docs.Our situation was not complicated, if it was we might have used an attorney.

Chris L. · Answer

@Jason E. Smith. Thank you for the info. I will consider what you mentioned about Wells Fargo. Wells was able to match rates and fees to other lender, avoid appraisal and close in 2 weeks so that was part of why we were thinking of using Wells Fargo but I will consider, as I agree with what you said

Jason E. Smith · Answer

Chris, sorry to hear you're supporting Wells.  Given all the controversy they’ve had over the years with creating false customer accounts, moving money without permission, etc. I personally don’t want to contribute to such an organization.  There’s too many great lenders with better reputations I’d rather support.  But to your question, I believe the attorney does the title search when buying a property.  So if you’re just refinancing I don’t think you would need an attorney involved.  You can call Ruth Hudspeth with Fairway Independent mortgage and ask her to confirm.  Good luck!