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Why do title insurance company's ask if a new title insurance request ask if it is a refinance?
Title insurance rates vary depending on if the transaction is a purchase or a refinance
If you get a title comittment do you also need title insurance or does title comittment mean you get title insurance also?
A title commitment is just what it is. It's a commitment. Meaning as long as all of the conditions are met on that commitment, after closing, title insurance will be issued. A commitment is not considered insurance. Your title is not insured until after closing when the new deed and/or mortgage has been recorded. At that point, the title company issues insurance. If you are buying a new home and depending on where you are, you should receive your title policy about 60 days after closing along with either the original or a copy of your deed.
What is title insurance and do you need it when refinancing your home?
Title insurance is usually required by the lender to protect the lender against loss resulting from claims by others against your new home. In some states, attorneys offer title insurance as part of their services in examining title and providing a title opinion. The attorney's fee may include the title insurance premium. In other states, a title insurance company or title agent directly provides the title insurance. A Lender's Title Insurance policy is usually required when you are refinancing. If you have an Owner's Title policy already (you probably received it with your recorded deed) and can provide the title agent with a copy of it, you can very often get a reissue credit that will greatly reduce the amount of money this lenders title insurance policy will cost you. To save money on title insurance, compare rates among various title insurance companies. Ask what services and limitations on coverage are provided under each policy. In many states, title insurance premium rates are established by the state and may not be negotiable. Even if the premium rates are not negotiable, many of the title-related fees can vary from company to company and should be compared as well.
New title insurance if you refinance with the same bank?
Yes you will normally be required by your bank or lender to acquire a new lenders title insurance policy when you refinance even if it is with the same bank or lender you previously used. The reason is title insurance is good for claims or defects in title existing prior to or at the time of your settlement. A new policy is required to cover any new risks that may exist as a result of something after your previous settlement to bring the title insurance coverage to date and current with your new transaction. The good news is you can ask for a reissue rate on your policy and save significantly if your last settlement occurred less than 10 years ago and you have the paperwork for the previous insurance policy or can obtain it. Some companies will still offer reissue rates without the prior policy paperwork so make sure you ask for a reissue rate and encourage your title agent to go easy of you with fees if you are a repeat customer.
When you refinance a mortgage can you get a refund on title insurance paid on the existing loan either lender's or owner's policies?
In many states, there is a discounted refinance rates for the premium. Ask the title insurance agent who is doing the new Mortgage Policy if you qualify for a discount. There are no discounts that I know of, on an Owner's Policy, since when a new Owner's Policy issued, it means the property and chain of title, has transferred hands.
Who pays for Title Insurance in Marion County Florida?
If the transaction is a refinance, then the borrower (current owner), pays for the Mortgage Title Insurance, for coverage on the new loan. If the transaction is a purchase, the title insurance fees are negotiable and either buyer, seller or both can pay the fees as per what is regional practice or what has been negotiated into the sales contract. All states vary, yet who pays on a purchase is always an elective and negotiable between the parties involved as to the Owner's Policy. Typically the new buyer pays for the Mortgage Policy regardless as to who is paying for the Owner's policy.
Where can I find cheaper car insurance in new mexico?
Go online and check out Rio Grande Insurance for cheap insurance in New Mexico.
Where can I find a list of car insurance companies in New Mexico?
There are many great car insurance companies in New Mexico. You can find a comprehensive list of car insurance companies in New Mexico at http://newmexicoautoinsurancecompanies.com/.
How much is cheap car insurance in New Mexico?
The cheapest car insurance in New Mexico is liability only car insurance. This insurance can cost as little as $60 a month.
Why do title insurance company's ask if a new title insurance request ask if it is a refinance?
Title insurance rates vary depending on if the transaction is a purchase or a refinance
Do the car insurance New Mexico laws say I have to have some sort of insurance?
New Mexico does require that its drivers have car insurance. The minimum car insurance required is at least liability.
Who regulates the title insurance industry in New Jersey?
New Jersey Department of Banking and Insurance
How do you switch a title to a new owner?
Title to real property is transferred to a new owner by a written document called a deed. Title insurance cannot be transferred to a new owner. Each owner must purchase their own title insurance.
Where can you get a title insurance primer for New York State?
Title insurance is regulated in NY by their Department of Banking and Insurance. Check out their website at: ins.state.ny.us Go on the website of any of the larger title companies or their local agents. They usually have an FAQ section explaining title insurance and what it covers.
If you get a title comittment do you also need title insurance or does title comittment mean you get title insurance also?
A title commitment is just what it is. It's a commitment. Meaning as long as all of the conditions are met on that commitment, after closing, title insurance will be issued. A commitment is not considered insurance. Your title is not insured until after closing when the new deed and/or mortgage has been recorded. At that point, the title company issues insurance. If you are buying a new home and depending on where you are, you should receive your title policy about 60 days after closing along with either the original or a copy of your deed.
When getting travel insurance for Mexico is it classed as part of the US?
Only if you mean "New Mexico". Otherwise, you will require a different kind of insurance.
Who pays more car insurance in new jersey or Montana?
Montana because there are less people.
