If you never got your deed, it’s not difficult to fix that
A: First, let me dispel a real estate myth. You do not need your deed to the property whenever you decide to sell. To my knowledge, most or all recorders of deeds in this country have online records, and a quick search will produce the deed.
In fact, even before computers and the internet, if you were to visit the office of the local recorder of deeds, you would be able to find the deed to your property — although it was a lot harder in the old days.
So, you have two options. Contact your attorney’s office and make it clear that you have been ignored and if you do not get the deed within two weeks, you will file a complaint with the local bar association.
Alternatively, you can go online and find your deed.
A: Regardless of what kind of loan you take, please refinance immediately. It is almost unconscionable that you have been paying such a high interest rate to your lender every month.
I know the interest rate on a 15-year loan is now considerably lower than the 30-year, but the payments are also considerably more expensive. My concern: Why throw good money after bad? Keep those additional payments in your portfolio for that rainy day.
More importantly, with a 30-year loan, you have the absolute right to make extra monthly payments to reduce your loan balance more quickly. But unlike a 15-year loan, where you must make the payment each and every month, with a 30-year loan you have the option to pay more — not the obligation.
Let me make it clear, however, that this is my personal opinion. Review the facts, run the numbers and decide for yourself which loan is best for you.