Lender’s title insurance protects the lender from unknown claims or defects in the title of the property. It can help prevent major financial losses in the future from potential lawsuits, back taxes, conflicting wills, and other past title issues and burdens. It will last as long as the loan remains unpaid and will end after the last payment. The lender’s title insurance can pay back the amount owed if the title is contested.
Is Lenders Title Insurance Needed?
Lender’s title insurance is required by most mortgage lenders to protect lenders against property loss or damage. Title agencies will need to check and see if there are claims on the home before the purchase. Lender’s title insurance protects the lender in the event of problems during transferring title rights. Lender’s title insurance is almost always mandatory in the mortgage process during the purchasing or refinancing of a home.
Lenders Title Insurance With Embassy Title Agency
If you are looking for lenders title insurance in Novi, MI, Canton, MI, Dearborn, MI, or the surrounding areas, Embassy Title Agency can help you. We provide title services, commercial and residential property closings, and escrow services. We have over 100 years of combined experience and will always go the extra mile for our customers. Our lender’s title insurance services protect our customers against title issues and help ensure a smooth transaction with trouble-free closing. To learn more about our services, contact us online today or call us at (734) 293-2000.