Blog Archives

Title Insurance Vital to Protecting Homebuyers – Part III

*Part III

The majority of the one-time title insurance premium covers the cost to discover, identify and repair issues caused by events that occurred in the past. Because of these preventive measures, title insurance is fundamentally different from all other forms of insurance, which charge annual premiums to provide insurance protection for future events. The curative work performed by title agents minimizes the fear, disruption and distress that title claims have on homeowners. Read the rest of this entry

Title Insurance Vital to Protecting Homebuyers – Part II

*Part II

Unlike most other types of insurance, you pay a one-time premium at the time of your home purchase for coverage that continues as long as you or your heirs own the property. Depending on where you live, the cost of an owner’s policy is marginal when a lender’s policy is also being issued.  This “simultaneous issue” discount means you do not pay full premium for owner’s and lender’s policies. You may even split settlement costs with the seller for the lender or owner’s policy. Depending on the state, rates are set by the state’s Department of Insurance or by the companies themselves. Consumers should ask their local title company how rates are determined and what services are included in the rate for where they live. Read the rest of this entry

Title Insurance Vital to Protecting Homebuyers – Part I

*Part I

By Jennifer Ferri, owner and operator of Title Junction, LLC

As recently as this summer, some questioned the use of title insurance, suggesting it was an unnecessary expense when purchasing a home. Yet over the last few months, reports that paperwork in the foreclosure process could be invalid have raised questions about the validity of title to foreclosed properties and sparked fear that homeowners who purchased in good faith could possibly lose their home. Read the rest of this entry