Source: The Globe And Mail —
If you’re a looking for a small silver lining in the global pandemic, you’ll find one in the way that COVID-19 inspired faster mortgage closings.
When mass contagion made face-to-face lawyer visits less palatable, virtual closings took off. There’s now a slew of e-lawyers that will close your loan using a Zoom-like interface, without printing a single sheet of paper. Examples include the likes of Deeded.ca, MyClosing.ca, Diamond & Diamond, Axesslaw.com and many others.
Some, such as Ontario’s MyClosing.ca, even let you do everything from a mobile phone app, including signing.
How it works
Most e-closings go basically like this:
1. Once your mortgage is fully approved, your lender sends the paperwork to the e-lawyer of your choice.
