If the situation persists and home prices level off or even depreciate like they did 10-years ago, you may be unable to sell your home because you owe more than the value. You may also be unable to refinance it because you exceed the maximum loan to value limits. Avoid this like the plague. The borrower usually pays for title insurance. If the loan is a no cost refinance, the lender will pay for the title insurance.
Title insurance is needed each time a mortgage loan is granted.
This is because it insures the title to the property is free from any surprise liens. So in essence, it covers the timeframe prior to the mortgage closing. That is why a new one needs to be done on a refinance. Advertising Info Site Map Help Market data delayed up to 20 minutes. Futures and Commodities delayed up to 30 minutes.