28 Feb Holly Walther Lending Team: Fun Fact Friday – The Difference Between Owner’s and Lender’s Title Insurance
Holly: Hi, it’s Holly. Happy Friday! Me and Little Miss Daisy are here with your fun fact Friday and today we want to talk about title insurance. A lot of times when we’re going over the numbers with clients, there’s a lot of questions but that what is the difference between a lender’s side of policy and an owner’s title policy? Um, it’s also called lenders and owner’s title insurance, so there’s a lot of confusion around that. They want to know if that’s their homeowner’s insurance or what exactly that is. And the lender’s title insurance is required. It protects us as your lender in the event that anything showed up that was missed on title prior to closing. An owner’s title policy is going to protect you in the same manner. It is optional. It is not required. While we highly recommend that you do take an owner’s title policy, we just want to let you know about the differences. In this video, you’re going to see a link below to all the details and descriptions on – it gives it a little more detail about what an owner’s title policy is. And if you have any additional questions, we would be more than happy to put you in touch with our preferred closing attorney. So there you’ve got it. The difference between lenders and owner’s title. If you have any additional questions, please don’t hesitate to give us a call.