Protecting Your Home with Title Insurance

	Are you looking for a mortgage? We'd be thrilled to talk about our many mortgage solutions! Call us at 610-398-9500. Ready to begin? Apply Online Now.

Buying a home may be the largest investment you make in your life. So before you close, you need to be sure that that nobody else can claim the property.

A title company ensures that your new property is free of encumbrances and other legal obstacles.

For a modest, one-time title insurance premium, you will receive continuous title insurance protection equal to the purchase price of the property or its current market value.

The title company searches the title history of the property. Through its research, the title insurance company can usually identify any title problems that may arise and clear up these problems prior to closing.

Because Real Estate Law is so complicated, you need an expert to make sure that all previous transactions have been correct, so you don't end up with legal problems or a problem selling your property. Your owner's policy will describe the property and outline any recorded limitations on your ownership. It will also set forth the title insurance company's responsibilities should any claim covered by the policy terms arise. Typically your title insurance will protect you in the following cases:

• Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. In this case, the title insurance company will defend your title at no expense to you.
• Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. Defects are rare, but they can be very difficult, making the property inaccessible, unable to be built, or unsaleable. Many other complex problems define "Defective title." The title company will discover these title problems, or if they miss them, insure your loss up to the amount of the policy.

Consumer Trust Mortgage Corp NMLS #185144 can walk you through the pitfalls of getting a mortgage. Give us a call at 610-398-9500.