If you are buying or refinancing your home, you have probably heard the term "closing" or "settlement" several times. These terms refer to the act of signing all of the mortgage documents associated with your transaction.

In the case of a refinance transaction, the only parties at the settlement table are you and your Credence Settlement Title Agent. In the case of a purchase transaction, several other people may attend as well, such as: your realtor, the sellers of the property, the sellers' realtor, and an attorney (if either party has retained one.)

There are several factors involved in the scheduling of your settlement, first and foremost being the term of your rate lock (your rate lock term determines the last possible date that your settlement can occur without your interest rate expiring). The other factors, being time and location, are up to you. For your convenience, Credence Settlement offers day or evening appointments, as well as in-office or in-home appointments*. You will be contacted during the process to schedule your settlement for a date, time, and location that is within your rate lock period and convenient for you.

As stated above, the purpose of settlement is to sign all of the mortgage documents associated with your transaction, and in the case of a purchase, the documents associated with the transfer of the subject property as well. Simply put, you are going to be signing a STACK of papers. But don't get overwhelmed just yet; an experienced Title Agent from Credence Settlement will be there to walk you through everything. All of the documents will be thoroughly explained to you so that you have a complete understanding of your mortgage terms and conditions. At the end of your settlement, you will leave with copies of everything that you sign.

A strong hand... just kidding. The most important thing you will need to bring to your settlement is yourself, and any other person(s) who needs to sign the mortgage and/or transfer documents. If any party is prevented from attending your settlement, a Limited Power of Attorney will be needed. Please contact your Credence Settlement Title Agent for details of how to obtain a Limited Power of Attorney.

A valid, government issued, picture identification is also needed at settlement. Your driver's license, passport, or green card is sufficient. For a complete list of acceptable forms of identification, please contact your Credence Settlement Title Agent.

If you need to bring money for your settlement, it must be in the form of "certified funds,"such as a money order or bank check. Your Credence Settlement Title Agent will give you 24 hours advanced notice of any monies needed so that you will have time obtain the necessary form of funds.

* Restrictions may apply; ask your Credence Settlement Title Agent for details.