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I Always Thought Title Insurance Was a Waste of Money Until This Happened to Me
I am currently involved in a long process of buying a home from some investors who purchased it in foreclosure. The home closing has been held up multiple times, as the sellers are having a hard time getting liens off the property. That's not what made me glad for title insurance though, since the title company identified all of these claims and is requiring the sellers to clear them up before the purchase can be finalized.
Title Insurance Helps Homeownership for Black Americans and Others
Often misunderstood, title insurance is a product that comprehensively protects homeowners’ property rights and their lenders’ financial interest in a property. It is vastly different than other types of insurance because it is a one-time fee and title professionals do the majority of the work upfront to both examine title issues and rectify any problems found. That is why many homeowners thankfully don’t experience the challenge of a claim that threatens their homeownership – but if they do, title insurance is paramount to protecting their biggest investment.