Rate Terminology

Rate Terminology
Here are some terms that would be helpful to know.   Feel free to ask which of these you may qualify for:
Basic Rate: The rate charged to a consumer who does not qualify for a reduced rate such as, but not limited to, the reissue rate or simultaneous issue rate. (see below).
Reissue Rate: [...]

Setting Title Insurance Rates

How Title Insurance Rates are Set
How title insurance rates are set varies from state to state. Some rates are set by the companies themselves and some are set by the State Department of Insurance. For those states that set the rates (Florida, New Mexico, and Texas), each title company is required to charge the same [...]

What’s Involved?

So, what do title companies really search?
Title companies examine several aspects during a title search. For example:
Chain of Title – This is simply a history of the ownership of a particular piece of property, describing who bought it and sold it, and when. The information may be derived from public records-usually from a County Clerk’s [...]

Test YOUR Knowledge

What Have YOU Learned…Take this quiz to find out!
Test Your Knowledge
1. Which one of the following is not a closing cost?
A. Inspection fees
B. Title insurance
C. Down payment
D. Recording fees
2. Is the “good faith estimate” provided by the mortgage company binding?
A. Yes
B. No
3. Who will conduct my closing?
A. A title company
B. A settlement company
C. An escrow [...]

Title Insurance…Your Questions Answered

Doesn’t my sale contract, which specifies “marketable” title, cover me?
In theory, it should; but in reality, you would still need to initiate expensive legal action against the seller; and your recovery would be subject to the seller’s ability to pay damages.
Should I buy an owner’s policy now even if I have no equity [...]

Do I Really Need Title Insurance for this?

I’m refinancing, why do I need title insurance?
When you refinance you are obtaining a new loan, even if you stay with your original lender. Your lender will require lender’s title insurance to protect their investment in the property. You will not need to purchase a new owner’s title policy; the one you bought at closing [...]

What Are The Real Estate Title Problems

Common Title Problems
Here are three short stories on some common title problems:
Fraud & Forgery
Those involved in real estate fraud and forgery can be clever and persistent. This could mean complications for your home purchase.
In a western state, an innocent buyer purchased an attractive home through a realty company, accepting a notarized deed from the [...]

Types Of Real Estate Title Insurance

Types of Title Insurance
There are two types of title insurance:
1)       Lenders title insurance, also called a Loan Policy
2)       Owner’s title insurance.
Most lenders require a Loan Policy when they issue you a loan. The Loan Policy is usually based on the dollar amount of your loan. It protects the lender’s interests in the property [...]

The American Dream, OR The American Nightmare?

The American Dream or The American Nightmare?
 
Without Title Insurance, you could be living the American Nightmare! 
 
Imagine this.  You find your perfect mate, you get married, safe enough money to buy the house you agreed to raise your kids in.  You raise 3 children and spend 27 years all in the same home.  The kids [...]

What is Title Insurance???

Title Insurance, What Is It and Why Do I Need It?
·  So what exactly is title insurance?
A title insurance policy protects you against a loss that can occur when you discover after closing that someone else can claim ownership of your property.
·  What is a title examination or title search?
A detailed examination of [...]