Archive for November, 2013

Do I Need Title Insurance When I Refinance?

Friday, November 29th, 2013

When you refinance, you’re obtaining a new loan, but it’s for the same property, so many people think that title insurance doesn’t come into play here. Actually, it’s very likely that you will need title insurance when you refinance. Most lenders require a new title search to be executed and a new Loan Policy in order to protect their investment in the property which is being refinanced. There are issues that can come up with the title, such as a judgment placed on the property due to unpaid taxes or homeowner dues, which is why the lender will execute a new title search in order to keep abreast of any issues. However, you won’t need a new Owner’s Policy because this is good as long as you or any heirs have an interest in the property. Overall, the takeaway here is that yes, you do need title insurance when you refinance.

American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is your Baltimore title company ready to provide you with the best experience possible in every capacity.

To get you started on the way to titling your home, try our free title settlement quote program here. You can fill it out for a free, no obligation title quote. It’s easy and fast so you’ll have the information you need in seconds. Contact us for more information about our title and other real estate services.

As your Baltimore title company, American Home Title Group is ready to assist you today with a variety of real estate needs you may have. Contact us now to begin your home titling process. Our phone number is 410-750-8500. To reach us via email, please send a message to info@americanhometitlegroup.com. Follow our blog and keep up with us on Google+, Facebook, and Twitter.

Source

http://www.homeclosing101.org/whyneed.cfm

Tags: refinance, title insurance
Posted in Refinancing | Comments Off

Your Home Title Insurance Rights in Maryland

Thursday, November 21st, 2013

It’s important to know your rights with regards to title insurance in Maryland. What are your rights when it comes to settlements and title insurance? Below is The Title Insurance Consumer’s Bill of Rights from the Maryland Real Estate Commission, which covers all of your rights as the consumer in the process.

Nine Things You Should Know Before Signing a Contract of Sale or Refinancing Your Property

You have the right to choose your settlement agent and title insurer.
You have the right to receive settlement cost information early in the real estate settlement process, allowing you to shop for the settlement services that best meet your needs.
You have the right to receive an itemized settlement statement from the settlement agent detailing all fees paid to the settlement agent before you agree to use that settlement agent.
You have the right to be informed about the total cost being paid by you to the settlement agent.
You have the right to ask and receive accurate information from your settlement agent about whether there is a ground rent, lien, judgment, or any other impediment to outright ownership of the property.
You have the RIGHT to request and receive from your settlement agent the Settlement Statement (HUD-1) the business day before the date of settlement.
You have the right, before you sign, to ask the settlement agent questions and receive clear and complete answers about charges and documents that you do not understand.
You have the right to receive copies from the settlement agent of all documents you signed at the time of closing.
You have the right to have all funds disbursed timely and properly by the settlement agent in accordance with the Settlement Statement (HUD-1) you signed at closing.

Source: The Real Estate Settlement Procedures Act (RESPA) of 1974, 12 U.S.C.§ 2601 et seq.

Keep these rights in mind when choosing a settlement agent and title insurer. More information is available here.

Tags: home title, home title insurance, title insurance rights Maryland
Posted in Home Titles | Comments Off

How Title Insurance Protects You From Conflicting Wills

Thursday, November 14th, 2013

Last week we talked about how title insurance can protect you from real estate fraud. This week, we’ll discuss how home title insurance can protect you from conflicting wills.

When a property owner passes away, their will dictates who will receive the deed to the property. However, things can get misplaced or lost in the shuffle, and sometimes the title deed is unable to be found. In this example from Home Closing 101, a probate court gives the property from a late mother’s estate to one of her sons, who sells it. Later, the other son finds the deed in a drawer and files a claim on the property. Depending on how the court rules, the new owner of the house could be looking at serious financial damages. However, if the owners have title insurance, the insurance will pay for the brothers’ claim and legal fees if the deed is upheld in court. While it may seem like such a scenario is unlikely, it can happen, and if it does happen to you, you’ll be glad you have title insurance.

Tags: conflicting wills, home title deed, title claims, title insurance
Posted in Home Titles | Comments Off

The Importance of Title Insurance

Thursday, November 7th, 2013

American Home Title Group can help you avoid legal potential problems with our extensive experience in the business. We’ll make sure your home is properly titled and insured, which is important for several reasons. Here’s one of them.

One example of real estate fraud is when a seller assumes the identity of a property owner and tries to sell the property. Let’s say you own a property in Baltimore but live in California, and haven’t visited Baltimore in some time. In this example from Home Closing 101, someone could easily look up the public records of Baltimore properties with out of town owners who have owned the properties for a long period of time. It would be easy to determine that they weren’t living there currently, and to forge the proper deeds, assume the property owner’s identity and sell the property to a buyer. Title insurance would protect you from this kind of real estate fraud, and ensure that the property remained in your hands.

American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is your Howard County title company ready to provide you with the best experience possible in every capacity.

As your Howard County title company, American Home Title Group is ready to assist you today with a variety of real estate needs you may have. Contact us now to begin your home titling process. Our phone number is 410-750-8500. To reach us via email, please send a message to info@americanhometitlegroup.com. Follow our blog and keep up with us on Google+, Facebook, and Twitter.

Source

http://www.homeclosing101.org/whyneed.cfm

Tags: home title, home title Baltimore, home title insurance
Posted in Home Titles | Comments Off

Get Your Home Titled in Howard County

Friday, November 1st, 2013

Buying a new home? Congratulations! Now it’s time for lots of paperwork. Buying a home is a very involved process, and no easy task. One of the things you’ll have to do after initiating the buying process is titling your home. In essence, a home title covers ownership of the land the property sits on. Having your home properly titled is important in order to avoid ownership disputes and potential legal issues. If you’re buying a home in Howard County, you can trust American Home Title Group to properly title your home, so you can enjoy your new homeownership.