I loved paying thousands in title insurance to refi on a house I built, and had owned since there was a structure on it. Totally makes sense, considering when the title was researched when I initially took possession of a house I instructed a builder to build.

Realtors, lawyers, car dealers, and the liquor industry have far more control over state legislatures than most people realize.

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Posted by 251TigerFan

Member since Jun 2023

27 posts

Posted on 10/31/23 at 4:32 pm to LemmyLives

Nobody wants title insurance until they do... And then they are really, really glad they had it.

And, it didnt cost you "thousands"

Also, you go lend someone a couple hundred grand for a house and see how you feel without any insurance in place to protect the title to your collateral.

Understandable frustration you have, but title insurance is undoubtedly a necessary "evil"

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Posted by Neauxla_Tiger

Member since Feb 2015

1910 posts

Posted on 10/31/23 at 4:33 pm to LemmyLives

quote:
I loved paying thousands in title insurance to refi on a house I built, and had owned since there was a structure on it. Totally makes sense, considering when the title was researched when I initially took possession of a house I instructed a builder to build.

You probably are referring to LENDER'S title insurance. The lender doesn't give a shite if you think the title is clear. They're not gonna lend you hundreds of thousands willy-nilly.

You don't keep buying owner's title on the same property over and over. You buy that once for your lifetime. But if you keep refinancing, you're going to keep paying lender's title insurance, same as you're going to keep paying for origination fees, appraisals, courthouse recording, etc.

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