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re: Home Mortage Closing Costs: Bait & Switch, Is It Legal?
Posted on 2/24/15 at 6:05 pm to nhassl1
Posted on 2/24/15 at 6:05 pm to nhassl1
Isn't title insurance fees a regulated thing? The price is the same no matter what company you choose.
I was told that if you did both, then the costs would be pretty split, but if you only did lenders, than most of the cost would be on that one. In other words, the same amount of work is done, whether you do both or just lender coverage. So, in effect, despite how the price is laid out on the GFE, it only costs a little more to get owners.
I'm curious why you are turning down owner coverage, though.
I was told that if you did both, then the costs would be pretty split, but if you only did lenders, than most of the cost would be on that one. In other words, the same amount of work is done, whether you do both or just lender coverage. So, in effect, despite how the price is laid out on the GFE, it only costs a little more to get owners.
I'm curious why you are turning down owner coverage, though.
1
Posted on 2/24/15 at 6:32 pm to LSUFanHouston
I'm not sure how it is regulated.
Because it is in a subdivision and it has a straight line title and the previous owner had the place for 10 plus years. Very low risk of claims or anything. In my opinion it's just a money grab for a lawyer with little to chance there will ever be a claim on it.
Because it is in a subdivision and it has a straight line title and the previous owner had the place for 10 plus years. Very low risk of claims or anything. In my opinion it's just a money grab for a lawyer with little to chance there will ever be a claim on it.
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