Showing posts from May, 2018

5 FAQs About Escrow Accounts

Whether it is realized or not, many homeowners put money into an escrow account each month. A portion of your monthly mortgage payment is broken out into this separate account. The money in the escrow account goes to pay bills like insurance and property tax, this way you do not have to save separately for these expenses that go hand-in-hand with homeownership. Arrowhead Title, Inc. has provided a list of frequently asked questions about escrow accounts. 1. Q: Why am I required to have an escrow account? A: An escrow account is usually required if the down payment on your home was less than 20%. Property taxes and insurance premiums are a few of the large expenses this account helps pay. You make one combined mortgage and escrow payment each month and your mortgage company will then deposit a portion into your escrow account. When your property tax and insurance bills are due, they are paid on your behalf. 2. Q: What is an escrow analysis? A: As required by law, once a year,

What Does Title Insurance Protect You From?

When unexpected issues arise that may threaten your right to use and occupy your home, title insurance is your first (and sometimes) only line of defense. As the owner of your own home, you're counting on your right to use your land as you wish. If something threatens that, it can cost you a great deal of time, energy, and money. Fortunately, Arrowhead Title, Inc. is here to provide you with title insurance at the Lake of the Ozarks to protect all of your real estate investments. The list of potential hazards that may threaten your right to the title of your property are practically limitless. Here is a general overview of twelve things that title insurance can help protect you from. Titles are often dependent upon several different documents. If there is an error in any the way of these documents were written or recorded, your right to the title may be threatened. The deed, mortgage, or sale may have been authorized by an individual who was not mentally competent. One o

6 FAQs About Title Insurance

Title insurance is arguably one of the most poorly understood forms of insurance. Many homebuyers hear about it as they prepare to purchase their homes, but they don't understand its true purpose - they simply accept it as a normal part of the closing costs. Nevertheless, securing  title insurance at the Lake of the Ozarks  is a critical part of the home buying process. Today,  Arrowhead Title, Inc.  is here to help by answering some of these common questions about title insurance. 1. What Is Title Insurance? Title insurance, as its name suggest, insures the title to a property. It is homeowners' first line of defense against hazards that may threaten their right to their property, such as unknown heirs, unauthorized signatures, mistakes in public records, invalid power of attorney, etc. Essentially, title insurance protects your (and your heirs') right to use and occupy the land. 2. How Much Does Title Insurance Cost? Actual costs vary from state to state and closi

Forgery: An Increasingly Common Problem in Real Estate Deeds

If you have personally never been a victim of real estate forgery, you may not be aware that these things happen. Real estate forgery is a real thing and it can happen to anyone who owns property or is in the process of purchasing property. Typically, the only way you can ensure you will not become a victim of loss of property due to a forged deed is by purchasing title insurance . Arrowhead Title, Inc would like to help you understand what real estate forgery is and how to prevent it from happening to you. How Does Real Estate Forgery Happen? Forged deeds are exactly what it sounds like; a fraudulent scheme where someone forges the homeowner's name on a property deed and uses that title to claim ownership of that property. You may be asking yourself, how can someone get away with this? How this happens is the person who commits the fraud usually manages to have the deed notarized using false identification. After the document is falsely notarized, the scammer can record the

Common Title Defects That Can Affect Ownership

Spring is a popular time to buy property, especially here at the Lake of the Ozarks. Whether you are buying residential property, vacation property, commercial property, or a piece of land, purchasing title insurance is a crucial step in the process. There are a lot of different reasons you should purchase title insurance with Arrowhead Title, Inc , the Lake of the Ozarks most trusted title company . One major reason you should have title insurance is because there could be a defect in the title that you are not aware of. Here are some common title defects that can affect ownership. Seller Does Not Own the Property It may seem unlikely, but it is possible that the seller does not actually own the property you are trying to buy. You could be dealing with unethical sellers, or the property could unknowingly be in someone's will. When someone dies, and they leave property in their will, it is not uncommon for them to leave the property to multiple people/family members. In this