allincorporate.com

A bought a new house a little while back and I was surprised at the shocking numbers they hit me with when I went to sign the final documents. We started with some very reasonable figures in regards to the loan amount, the interest rate and all of the associated fees. At least the fees that I was aware of at the time. I guess since it has been quit some time since I have gone through the whole mortgage process I kind of forgot all of the actual fees that are associated with buying a house. When I went to sign the final docs however it all come back to me, right there in front of me in black and white. All I can say is thousands of dollars in title insurance.

I don’t even remember what title insurance is much less why I need it. I don’t remember contacting a title company to even get a quote for this insurance yet there it was. So I thought to myself, if I am going to pay for this insurance I am at least going to find out what it is for. I looked it up on wikipedia and it said “Title insurance is insurance against loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens.” I am not sure that I understand all of that mumbo jumbo but I guess it is the job of the title insurance company to make sure that when I buy a house no one can come against my house and say that I owe them money or they have any right to my house at all. I guess that is worth the money.