Posted on: 01st Jun, 2012 07:12 pm
Hi. I am in the process of refinancing my 30 yr mortgage to a 15 yr mortgage b/c of the low rates these days. I'll be refinancing with the same bank. The bank requires that I get the title insurance for the bank but is it necessary for me to also get title insurance? I know that it is not necessary but is it in my best interest to also get one? Will the title insurance for the bank be sufficient? Thanks.
Welcome jwk,
I personally feel that it will be in your best interest to go for the title insurance. You can take out the title insurance from the bank. It will be sufficient enough.
I personally feel that it will be in your best interest to go for the title insurance. You can take out the title insurance from the bank. It will be sufficient enough.
Hi jwk!
Welcome to forums!
You may even contact the local insurance companies and try to get a title insurance from them as well.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You may even contact the local insurance companies and try to get a title insurance from them as well.
Feel free to ask if you've further queries.
Sussane
you got owners title insurance when you purchased the property.
thta is your owner title insuarnce for however long you own the property, no matter how many times you refinance.
whne you refiannce, you do not need new title insurance for yourself as the owner.
every time you refinance, there is a new loan, not a new owner. every new loan requires new lender title insurance. even if it is the same bank/lender. it is a new loan.
thta is your owner title insuarnce for however long you own the property, no matter how many times you refinance.
whne you refiannce, you do not need new title insurance for yourself as the owner.
every time you refinance, there is a new loan, not a new owner. every new loan requires new lender title insurance. even if it is the same bank/lender. it is a new loan.
