Overcoming Owner’s Policy Objections When the TILA-RESPA Integrated Disclosure (TRID) requirements went into effect, lenders began issuing a new Closing Disclosure to homebuyers. This new form lists the Owner’s Policy of title insurance as an “optional” purchase. While an owner’s title insurance policy has never been required, this “optional” language may spur questions regarding the value of title insurance. Here are some common objections to
There 10 rules to know about TRID! The Consumer Financial Protection Bureau (CFPB) created the TILA-RESPA Integrated Disclosure (TRID) Rule to improve mortgage disclosure forms to make it easier for consumers to understand the terms of their loans and closing costs. In order to ensure a timely closing, it is more important than ever that real estate agents communicate with their consumer, lender, and settlement
Introduction Get title insurance for protection! Homeowner’s have many options to consider when determining the best possible protection to keep their homes safe and secure for their families. Often, though, people take title insurance for granted. Choosing to install smoke alarms, deadbolt locks, and home security systems is a great way to start! These are important lines of defense to ensure their peace of mind.
Homebuyers need peace of mind! Why, you may ask? Did you know each year, approximately 20% of homebuyers fail to protect themselves by not getting owner’s title insurance? Unfortunately, this leaves them exposed to serious financial risk—causing endless worry and regret. If you’re thinking of buying a home, here’s what you need to know to protect yourself and your property rights, so you can rest