Understanding Closing Costs


You can generally break down all closing costs into two basic groups: Amounts paid to state and local governments. These include city, county and state transfer taxes, recordation fees, and prepaid property taxes. Costs of obtaining a loan or mortgage. These fees include title insurance, appraisals, credit checks, loan origination and documentation fees, commitment and processing fees, hazard and mortgage insurance and interest prepayments. There are plenty of fees that you’ll have to pay during the closing. Many of these costs are … [Read more...]

20 Reasons Why All Real Estate Titles Should Be Insured


20 reasons to get title insurance: A fire destroys only the house and improvements. The ground is left. A defective title may take away not only the house but the land on which it stands. Title insurance protects you against such loss. A deed or a mortgage on the chain of title may be a forgery. A deed or a mortgage may have been signed by a person under age. A deed or a mortgage may have been made by an insane person or one otherwise not competent. A deed or a mortgage may have been made under a power of attorney after the death of … [Read more...]

It Pays To Explore The Ins & Outs Of Title Insurance


When you bought or refinanced your home, did your mortgage lender require a lender’s title insurance policy? Since virtually all mortgage lenders require title insurance, except perhaps a few who are unaware of their high risk, the answer is almost surely “yes.” Today, more than 50 percent of home loan originations are refinances. Although home sellers sometimes pay for title insurance, when a home mortgage is refinanced, it’s the homeowner’s responsibility to buy the lender’s title insurance policy. Most homeowners feel title … [Read more...]