Directions for a Refinance Affidavit in Maryland

According to the eighth edition of "Black's Law Dictionary," refinancing involves "an exchange of an old debt for a new debt." One common debt that is often refinanced is a home mortgage. Homeowners often refinance a mortgage to lower their payments or obtain a more favorable interest rate. In Maryland, parties draft a refinance affidavit that details the existence of the original mortgage and the refinancing mortgage. The document is a sworn statement signed under oath on penalty of perjury.

Instructions

1. Gather the details of the original mortgage or mortgages. Particularly, you must know the original total amount of the mortgage and the amount unpaid. Gather information about the refinancing, including the total amount and how it is to be allocated.

2. Visit the land records office in the Maryland county where the property is. You need the book (liber) and page (folio) information for the existing mortgage. The clerk at the land records office can help you find this information. Ask the clerk to provide a blank refinancing affidavit if you do not already have one.

3. Fill in the amounts of the existing mortgages and the book and page information where the mortgage information can be found on the lines provided on the refinancing affidavit.

4. Sign the affidavit in the presence of a Maryland notary public.

References

• Frederick County, Maryland: Refinancing Affidavit
• Google Documents: Maryland Refinancing Affidavit
• "Black's Law Dictionary, Eighth Edition"; Bryan Garner; 2004

Resources

• MSN Money Central: 7 Secrets to Refinancing on the Fast Track