I am refinancing my mortgage. Do I need a new title insurance policy?

For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us. We can help. Located in Fairfield, NJ, we are the title insurance agent that does it all for you. Call us for a title insurance rate quote or check our website, www.vested.com.

* * * *

Why do I have to buy title insurance again when I refinance my mortgage?  After all, I bought a policy when I bought my home and  there is no change in ownership?

The new lender gets a new loan policy to insure the validity of your new mortgage.

For as long as you own the property, your Owner's policy is valid, but it doesn't insure the new mortgage created when you refinance, and it doesn't provide protection against events that may have transpired between the time you purchased the property and when it is refinanced.

For example, you may have taken out a second mortgage on the home that could threaten the priority of the new lender's mortgage. Or, there could be money  judgments against you or a construction lien claim against the property.

In New Jersey, mortgage refinances are insured at a steeply discounted premium.  If you would like a title insurance premium quote for your refinance mortgage or home equity mortgage, call us, or go to our website, www.vested.com.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow AT vested.com

Sphere: Related Content