Do You Need Title Insurance When Refinancing?
If you have been following our blog or social media, you are probably comfortably familiar with the importance of purchasing title insurance when buying a home. Title insurance is what protects your right to use and occupy the land you purchase by guarding against hidden hazards that may arise. Examples of these types of hidden hazards can include anything from invalid sales and unauthorized signatures to undiscovered heirs and mistakes in public records. Buying A Home Title insurance comes in two primary different forms: owner's polices and lender's policies. As their names suggest, owner's policies are specifically designed to protect the owner's interests, whereas lender's policies are designed to protect the lender's interests. When you take out a mortgage loan to purchase home, securing a lender's title policy will most likely be nonnegotiable. You will technically have a choice as to whether or not you wish to purchase an owner's title po...