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Yes. You have to buy a lender's title policy for the new lender. Your owner's title policy is good for as long you own the home. If you have an owner's policy, you can very often get a "reissue credit" on any future lenders title policies that you may be required to buy when you refinance.

The Mortgage Policy is only good for the life of the loan. If the current loan is paid off, the policy is no longer needed on the CURRENT loan being paid off.

However, the new lender will require a Mortgage Policy on the new loan.

The ONLY time you may not be required to get new title insurance would be if the current mortgage loan was re-written by the lender, changing terms, interest rates but not the loan amount.

Don't confuse this with a Streamline loan offered by your current lender offering a new interest rate on a new loan, but with low cost closing fees.

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2015-07-15 18:27:48
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Q: Do you have to pay for title insurance again when refinancing?
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Do you have to pay the title insurance?


Who pays for title insurance in Wisconsin?

Does the seller pay fortitle insurance policy

Who pays title insurance in Wisconsin?

Does the seller pay fortitle insurance policy

Do you need title insurance if you have a warranty deed?

You need title insurance to protect your title, but the person who SOLD you the warranty deed should pay for the insurance and provide proof that he or she has obtained title insurance that will pay the costs they will incur if the title is defective.Otherwise, you're stuck with a worthless warranty deed and may be left trying to sue the seller who has no money to pay for anything, let alone restitution or other damages.

Do you have to pay Title insurance when you refinance?

Yes, virtually all lenders' underwriting requirements call for lender's title insurance for a refinance.

Does title insurance pay for a lien that was missed at closing?

Yes that is what title insurance is for. However, there is a very good chance that the title insurance company will sue the attorney who was supposed to do the title search in the first place as they obviously didn't do their job.

If you agree in divorce papers to make the car payments until it is paid off but your ex-wife does not pay the insurance what can you do?

If your name is on the title, you can get the car and then pay the insurance. If your name is not on the title, you can pay the insurance to keep it from getting repossessed. If your name is not on the loan, quit paying and let her worry about it.

If Property has a lien that was not found by title insurance company what are the owners options?

Generally speaking, if the owner purchased title insurance the lien should be paid by the title insurance company. If not and the lien was recorded and missed in the course of the title examination the attorney who certified the title to the buyer should be contacted. Her malpractice insurance should pay the lien.

When refinancing after 2 years do you have to pay another closing cost or down payment?

Yes, there are fees to be paid, such as credit reports, appraisals, processing, taxes and insurance.

Can you buy title insurance?

Title insurance is a specialized type of insurance that is not generally sold by insurance agents. It is usually provided by an attorney and underwritten by a title insurance company who specializes in this type of insurance. The title insurance company relies on statements and work done by the attorney when he does the title search and he has some liability for his work. You can't just decide that you want a title insurance policy anytime. It is usually done when you purchase a piece of property. I suppose that if you wanted to pay for a new title search you may be able to buy a policy at a time other than at closing.

How do you know if a lien is on your home?

Most places have title insurance companies that would do a title search for you for a fee, but you can go down to your local property record office (like a Register of Deeds or County Clerk) and search yourself for free. If you go the title insurance route, the company will guarantee the accuracy of their findings for you so you can rely on them, but again, you have to pay.

Do you pay real estate transfer tax when refinancing?

Yes, some states require transfer taxes when refinancing but not all.

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