I am reviewing the HUD statement for my home (closing on it tomorrow) and it didn't have the owners title policy so i had them put it on... am i just wasting money? If the bank wants to be protected, I should be too I guess. In the 19 years this company has been around they have never had a claim against them.

 

an owner's policy is almost always required by the lender. And yes, it is in your best interest to protect yourself from possible defects on title.

 

the lender has a lender's policy and does not require an owners policy, only about 5% of people get it...

 

Title insurance?

$450 vs. $costofnewhouse

It's cheap insurance for your huge investment. Kinda like wheel locks. Also saves you the PITA/Your Live Going Upside Down if you were ever challenged in court.

 

Title insurance is typical in home purchase.

What is is you have to pay that again if you were to refinance. Now that makes no sense and is a waste of money.

 

Title insurance is smart in case there is a lein on the home that you didn't know about. But it is real BS to have to pay that when you Refi.

 

rest your mind, you did the right thing

 

i thought title insurance is required for all home purchases? when i closed my escrow i paid for it.

 

Get it and never look back.