Lender's title insurance policy Sunday, June 18, 2006
An insurance policy, which protects the lender against claims, and losses that may arise if the title is unmarketable or defective.
This coverage protects the lender, not the buyer, and the coverage decreases as the mortgage is paid. This will protect the lender's interest as long as there is a mortgage. An Owner's Title Insurance Policy protects the buyer, and his heirs, up to the full amount of the policy. It is a one-time fee and it is paid at the time of settlement.
An insurance policy covering a lender for the loan amount, whereby the coverage declines in amount as the loan is paid off, to the point where there coverage ends when the loan is paid completely
posted by your Insurance @ 2:11 AM,
