Why You Need Home Title Insurance
Home title insurance is an insurance policy which protects both the home owner and the lender from possible known or unknown defects of the title before and during the time of sale. There are several unpleasant problems that could happen to a home title. To mention a few, one could forge a signature to a deed and convey the property to another party; the existence of a mortgage lien could be unidentified by creditors due to the lack of legal descriptions of a mortgaged property; or a deed could be reprehensibly recorded due to faulty legal description.
Whether it concerns refinancing a home or purchasing a new home, home title insurance is important to the homebuyer and the lender to ensure there are no major problems or risks. Mortgage lenders assign a lien to the property being mortgaged in case the homebuyer is no longer able to pay for the property. In this respect, the lien will ensure that the property has a clean title and is free of complications. For the homebuyer, home title insurance will protect their title from potential defects until they resell or refinance their home.
Home title insurance, unlike any other insurance coverage, does not have a monthly paid premium. The premium is paid only during settlement and the coverage will last until resale or refinancing of the property. In events of property disputes, the homebuyer is safely covered for any expenses that might result from such situations.
Homes are entities where many would consider as a nesting place, however obtaining such a sense of security can be costly and nerve-wracking. Home title insurance relives homeowners and homebuyers from stress and uncertainty. There are several home title insurance providers in America. FNC Title Services, LLC, founded by Ali Farahpour, is one of the country’s leading title companies that can provide safe and secure home title insurance.
FNC Title considers service as the root philosophy of their company, ensuring security of the titles of their valued customers. From title search, preparation for the closing of sale, conducting of the closing, safekeeping of documents and issuing title policies, FNC Title promises to provide their utmost effort and performance.