Posted on 03/16/2024 2:06:34 PM PDT by AbolishCSEU
As a buyer is there ever a situation you don’t need title insurance?
“alleviating the financial burden on homeowners “
Biden and his gang caused the problems with forced high energy prices driving higher inflation and thus higher interest rates.
So in an election year they a\try to pander to homeowners with this lame-brained scheme rather undoing their failed policies.
Rather than removing closing costs (which protect the new homeowner) why not reduce or eliminate taxes and local fees (amazingly high in some locales) instead?
This is a gift to the real estate fraudsters.
Having worked for a Title Insurance company many years ago, I can assure you that you do NOT want to eliminate Title Insurance. A cloudy title will completely ruin your day.
Bad idea.
Isn’t this a requirement from the Lender? Why would Fedzilla need to intervene?
This sounds like the first step towards ending private ownership of real estate.
If you buy something, you don’t really know if you own it.
I don’t recall the cost of a title insurance policy to be a significant part of a mortgage transaction ...
That’s a plausible thought, when it comes to this crew running things.
Property tax should be eliminated immediately. It’s a corrupt criminal burden to all homeowners.
That’s exactly it. And their war on mom and pop landlords is ridiculous.
I bought a place with cash, had it surveyed, bought title insurance. Sold it seven years later, but not easily. The surveyor had made a big blunder. The title was given based on themat survey. Took a while to straighten out. Good thing I had title insurance.
It is ... for the seller
themat = that
Who will pay if the title is bad?
Who will pay if the title is bad?
That’s the idea behind title insurance.
The seller is guaranteeing the title is good by providing a bond for the buyer’s purchase price.
Title insurance is a scam.
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