Things To Know When Refinancing Title Insurance
Refinancing your home involves significant costs. You may also have to pay additional funds to third-party service providers like lawyers and home inspection experts. Also, you will need to buy title insurance for additional protection.
Your agent or real estate consultant may put you in touch with title companies that are part of their network. However, it’s essential to do adequate market research and compare several title companies for title insurance based on service quality and cost-effectiveness.
Explore the Range of Services Offered By the Company
Title insurance protects both homeowners and lenders. The insurance protects homeowners against different issues that may crop up during different phases of the refinance process. Only a homeowner who has undisputed ownership over the property is eligible to refinance the mortgage. If there are pending legal disputes surrounding ownership of the property, you may not have the right to refinance the mortgage.
Why Hire Our Services
When choosing a title company to buy insurance, it’s also critical to analyze the range of services the company provides. At Nationwide Land Title Company, we provide a vital role in the mortgage refinancing process and will be involved all the way through until final procedures are completed. We also provide other services like title and lien searches, short sale assistance, and other comprehensive services.
Go through Terms and Coverage Options
While a comprehensive title insurance plan will help avoid several possible financial losses, it may be best to eliminate coverage clauses, and additional clauses irrelevant to your refinance requirements. Specific insurance policies designed for owners who want to refinance their mortgages may have clauses that are only relevant to home buyers. Also, deleting irrelevant clauses may help you minimize the cost of insurance.
Contact Us for Reliable Title Insurance Services
At Nationwide Land Title, our primary goal is to protect homeowners and homebuyers against unnecessary costs and losses. Find out more about our range of title insurance services from our website or by calling 888-308-6465