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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Dear Harkiran:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-indent:.5in"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">In my humble opinion, this is a matter of economics. There is no cost to continuing to make payments, however the rates may be higher
if they the financing came from several years ago. Rates are fairly favorable at this time. Remember, however, that if your client refinances, they may obtain a new and better rate, however the length of the mortgage (10, or 15 or 20 years) will begin anew,
which may be more interest over time being paid. Finally, there is a cost to refinancing, so depending upon the amount being financed it could run several thousands of dollars. Your client receives the lesser rate, but it costs a certain amount to refinance.
That is how I would suggest they approach it. <o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black">Yours truly,<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black">Kerry A. Richards, Attorney<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#002060"><img width="130" height="42" id="Picture_x0020_2" src="cid:image001.png@01D77260.8FDBE9E0" alt="cid:image001.png@01D31B65.31A26710"><o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black">The Law Offices of Michael W. Bugni & Associates, PLLC</span></b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black">11300 Roosevelt Way NE, Suite 300, Seattle, WA 98125<o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#BF7000">EMAIL:</span></b><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black">
</span></b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black">krichards@lawgate.net</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#6D0065"><o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#BF7000">TEL:</span></b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#002060">
</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black">206-365-5500<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#BF7000">WEB:</span></b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#002060">
</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black"><a href="http://www.lawgate.net/"><span style="color:black;text-decoration:none">www.lawgate.net</span></a></span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#002060"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Harkiran Sekhon<br>
<b>Sent:</b> Tuesday, July 06, 2021 11:26 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv; WSBA Elder Law Section<br>
<b>Subject:</b> [WSBAPT] refinance versus successor in interest<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Hi Listmates,<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Wondering if anyone recommends any resources to learn more about the pros and cons of refinancing a property versus becoming a successor in interest for the mortgage of a property going through probate. <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Thank you in advance. <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Harkiran<br clear="all">
<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">-- <o:p></o:p></p>
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<p class="MsoNormal"><span style="color:#3D85C6">Harkiran Sekhon</span><o:p></o:p></p>
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<p class="MsoNormal">Attorney <o:p></o:p></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt">Sekhon Law, PLLC</span></b><o:p></o:p></p>
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<p class="MsoNormal"><span style="color:#3D85C6">P: </span>(425) 207-4866 | <span style="color:#3D85C6">
F: </span><span style="color:black">(425) 207- 4986</span><span style="color:#3D85C6"> </span>| <span style="color:#3D85C6">W:
</span><span style="color:black"><a href="http://www.sekhonlawpllc.com" target="_blank">www.sekhonlawpllc.com</a> |
</span><span style="color:#3D85C6">A: </span>707 S. Grady Way STE 600 Renton, WA 98057<o:p></o:p></p>
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