Title insurance is a type of indemnity insurance that protects both homebuyers and lenders from financial loss due to defects in a property’s title. Here’s a breakdown of what it is and why it’s important: What is Title Insurance? Title insurance covers issues that might arise with the ownership of a property after the purchase. …
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It can be challenging to navigate a real estate transaction. This is particularly true for those who don’t have much experience with the field. While hiring a real estate agent is typically recommended, it is often not sufficient. Working with a real estate lawyer is also critical. A legal real estate professional can assist you …
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Why You Need a Title Insurance Policy Before deciding if you need to consult with a lawyer for title insurance, it is best to understand why having a title insurance policy is necessary. During the mortgage process, purchasing a lender’s title insurance is mandatory. Yet, some homeowners choose to buy title coverage for themselves because …
When you say ”recession’, many people think of the Great Recession of 2008-10, and while that period and others like it devastated the worldwide economy, we’ve learned a lot in the process. During recessions, companies often collapse, people lose jobs and struggle day-to-day… it’s a really hard time for many people. But recessions have patterns, …
What is Title Insurance? If you are refinancing your home or trying to purchase a new home, at some point the term Title Insurance will come up. An unbelievable number of people have no clue what title insurance is but they purchase it every day. In a nutshell, title insurance, is a policy that limits …
Imagine closing on your dream home only to discover a few years later that the seller never had the right to sell it in the first place. This scenario is more common than many homeowners might expect. Bankruptcy complications, multiple owners, and forgotten easements can all transform your dream home into a nightmare. Fortunately, there’s …
