Posts

Showing posts from June, 2019

How Does Refinancing Affect Title Insurance?

Image
People refinance their homes for many reasons. Most commonly, refinancing is used to readjust the terms of the mortgage loan or to get a lower interest rate. If you’re considering refinancing your Lake of the Ozarks home to take advantage of a lower rate or more favorable terms, you most likely are looking to learn about the upfront costs. One thing you may not have thought about regarding refinancing, though, is the impact it will have on your title insurance policy. If you're thinking about refinancing your home at the Lake of the Ozarks, Arrowhead Title has provided some important information to keep in mind.

Refinancing - It's Still A Home Loan When you refinance your home, you are essentially taking out a new loan to pay off the original loan in full.  This applies even if you are refinancing through the same lender that originated your current loan.  Because you are taking out a brand-new loan, you will have to undergo the same process (and cover the same costs) that yo…

Choosing the Right Title Insurance Company for Your Transaction

Image
If you've ever bought a home, you know that the process requires the full (and careful) integration of many moving parts. The sellers, buyers, lenders, and real estate agents must work together to bring the transaction to a successful resolution. However, these important parties aren't the only ones who will be closely involved in the transaction process. While you as a buyer or seller may not realize it, a Lake of the Ozarks title company will also play a crucial role.

As a buyer, it will typically be up to you to select the title company you wish to handle your real estate transaction. Considering their close involvement in the process, it is important that you select a title company you know you can trust. Arrowhead Title, Inc. is here to help you gather the information you need to make an informed decision.

What Is the Title Company Responsible For? While first-time buyers generally do not understand the role a title company plays as well as they understand lenders' or…

Your Escrow Account Questions Answered!

Image
Congratulations! After touring multiple houses, you and your family have finally found your perfect home. It has everything you've ever wanted and is in the perfect Lake of the Ozarks location.  You've submitted an offer, the sellers accepted it, and you have agreed upon everything that will be included in the sale of the home. That's all there is to it... Right?

Not exactly.  Whether you are the buyer, seller, lender or borrower, you want the assurance that no funds or property will change hands until ALL of the conditions are met in the purchase agreement. This is exactly where your trusted title company at the Lake of the Ozarks really gets going! Arrowhead Title will work tirelessly to ensure that your closing process proceeds as smoothly and efficiently as possible.  In order to ensure that both parties are protected during a transaction, typically an escrow fund is agreed upon to be held as collateral. This not only offers a safety net for the seller as a show of go…

What is a “Cloud” on Title & How Does it Affect Property Ownership?

Image
The transfer of real estate is very complex.  One of the most important aspects of transferring real estate is proving that the current owner has the legal right to sell the property. There are multiple steps in buying and selling property that must be taken and quite a bit of paperwork that must be filled out before ownership can be transferred from one party to another.  Typically, these steps can be taken without too much trouble, but every once in a while, issues may arise that inhibit the sale of a property.  A "cloud" is an example of one such issue.
What Does it Mean to have a “Cloud on Title”? Often considered synonymous with "title defect," the term "cloud on title" refers to any issue with a title that may cause a reasonable buyer to hesitate before purchasing the property.  A “cloud on title” is anything that could impair or injure the title to a property or cast doubt on the title’s validity. Examples of common clouds include (but are not lim…