Buying A Home
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Quick Title Insurance Question
We are in the process of closing on a short sale house, the HOA has fined the current owners quite a bit for the unmaintained lawn but since it is a short sale house (and they are going to be forclosed on most likely) they haven't paid the HOA. The title insurance company would catch any leins on the house, but what if the HOA places a lein on the house say the day before we close, would the title insurance company still catch that? (The seller will be paying the HOA fee balance at closing)
Re: Quick Title Insurance Question
There is title insurance for you and title insurance for the mortgage company. You should always get both. You will be required to buy it for the mortgage company but yours will optional. You never know what kind of title leans may show up in the future and the insurance you buy will cover as long as you own your house. Your mortgage broker should be able to tell you all about it.