Protecting Your Largest Single Investment

By
Mortgage and Lending with 1st Colonial Community Bank NMLS #149277
Protecting Your Largest Single Investment Title insurance is not as well understood as other types of home insurance but it is just as important. You see, when purchasing a home, you are really purchasing the title to the property – the right to occupy and use the space. That title may be limited by rights and claims asserted by others, which may limit your use and enjoyment of the property and even bring financial loss. Title insurance protects against these types of title hazards. Other types of insurance that protect your home focus on possible future events and charge an annual premium. On the other hand, title insurance protects against losses from hazards and defects that already exist on the title and is purchased with a one-time premium. Two kinds of title insurance benefit you in two ways There are two kinds of title insurance: ◦Lender or mortgagee protection ◦Owner coverage Most lenders require mortgagee title insurance as security for their investment, just as they might require fire insurance and other types of coverage as issues for protection. When title insurance is provided, lenders are willing to make mortgage money available. Owner’s title insurance lasts as long as you, the policyholder, or your heirs, has an interest in the insured property. This may even be after you have sold the property. Depending on local practices, you may pay an additional premium for an owner’s policy or you may pay a simultaneous issue charge – usually a much smaller amount – for the separate lender’s coverage. Visit us today www.TreasuryMtg.com
Posted by

Carol and Richard DeGrace                               


Vice Presidents


NMLS # 149276, 149277

Aurora Financial Group Licensed Mortgage Banker NJ/PA Dept of Banking


and Insurance NMLS# 7096


Aurora Financial Group

 

9 Eves Drive


Suite 190


Marlton, NJ 08053

Phone: 856.596.6200, Ext 109


Carol cell: 609.209.3800

 

Rich cell: 609.209.3700


Efax: 856.355.4757

 

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Carol DeGrace 01/08/2011 12:03 PM
  2. Dan Detamore 01/08/2011 12:16 PM
Topic:
Home Buying
Groups:
USDA Rural Development Loan Group
South Jersey
Salem County, NJ
NJ First Time Home Buyer
1st Time Buyers
Tags:
treasury mortgage
title insurance
carol degrace
steve kappre
camdencountynjloanofficercom

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Richard DeGrace

NMLS # 149277, Camden County, NJ Loan Officer
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