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Title Insurance
Because a bank is loaning you money to purchase your home, the lender will appear as the first lien on your property. To protect your lender from being accountable for liens on the title, you will be required to obtain a lender's title insurance policy. For an additional fee, the title insurance company can issue homeowner's title insurance that gives you protection in the event someone is trying to collect on a lien from a prior homeowner. Your policy will protect you as long as you own the home, even if you refinance or pay off your loan, and depending on the policy, it can protect you even after you sell the house. You should ask your lender for information about homeowner's title insurance.
If you need any more information on this topic or buying or selling a home, contact us. We are here to help.
Pamela Edwards, realtor email me (972)715-0152 Ebby Halliday Realtors, Inc
Pamela Edwards, realtor email me (972)715-0152 Ebby Halliday Realtors, Inc
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