A company closure is a “notary” as commonly called in Latin America, where people notarize documents such as deeds to homes, wills or other documents. In these companies the people working on the closing process, given the history of title to the property that is to refinance or sell. It looks at how many loans are in it, which must be paid and further trials are found in the house, which in turn must also be removed or canceled the title to perform any refinancing or sale of the house. Many times they are loans or judgments that belong to previous owners and simply not recorded or not found in previous searches in these cases the above process, contact companies and request a certificate of satisfaction or proof of payment and recorded in the court in each city to which he belongs home. All these problems must be resolved before a refinancing or sale, because when loans are added home or buying a used home, it must be free of problems in the title. So it’s very important that companies do their work closures, as this will determine the status of the history of the property.
If for some reason companies do not realize closures a problem in the title, the famous title insurance will have to take action and pay all that is due or solve the problems that arise. It is therefore very important that the purchases get this insurance, which protects the loan that was produced and also the owner of the house. It is very important when you are refinancing and are known to be a lawsuit or debt, to let 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 is independent closure the lender, banks or entities providing money for that very reason is more objective in finding the problems that may harm the property owners and our mission is to explain the documents signed at the time of closing. Obviously, the loan officer and you had to have explained the loan program in relation to interest, penalties, fees, etc. So next time you decide to buy or refinance a property and have doubts about anyone add or exclude the title, or general questions, do not forget to advice along with processors title or closing agent who will be willing to help.