Why no Title Insurance threads?

[loudee]

I'm just curious why there doesn't seem to be any discussions on title insurance. Anyone have any opinions?


Lou

 

[djs]

Yes, title insurance is expensive, and is a very boring topic. It does make for some great bond sales though, when people can't prove they paid off a debt, and the original mortgage company doesn't exist anymore.

Beyond that, what is there to talk about with title insurance? Of course, I'm not an escrow officer, or related to a title company, who might find it fascinating!

Dan

 

[TXINSURANCE]

Seems to me title insurance is severely overpriced in relation to claims.

Has anyone on this board had a title insurance claim or even known someone who has?

For how few claims that roll in - I always felt these policies should cost a 1/10th of what they actually cost.

Call me crazy I just think RE fees are out of line these days.

 

[somarco]

Premium is roughly 1% of the value of the home. One time premium. Title insurance is valuable coverage if you understand all it covers. Many owners choose to save the $300 or so and it can end up costing them thousands.

 

[Sam]

Title insurance - Wikipedia, the free encyclopedia

They do pay a very low % of their premium in claims.

 

[moonlightandmargaritas]

Title insurance?

Geez, and I thought health insurance was a boring subject.

I guess the lender won't let you close without it?

 

[somarco]

Lenders require it.

Borrowers have the option. Very inexpensive but also a good buy in my opinion, especially if buying a new home.

Quite a few liens are popping up on new homes in Atlanta when builders & subs don't get paid. Several escrow checks bounced when lenders suddenly closed their doors leaving some folks in the lurch.

If you are dealing in foreclosed properties, do not be surprised if old liens and other claims show up after closing.

 

[TXINSURANCE]

It should be .01% not 1% for how few claims they pay out.

Another bi product of the real estate nightmare.

When it costs 10% to sell your home, the system clearly has too many hands in the cookie jar, this is just another one of those items.

 

[djs]

This thread has now exceeded the number of posts allowed for title insurance. No more posts will be permitted on this topic until there are another 500 posts on the subject of 'Zero Premium to the Insured' life insurance. Of course, you can help bail Ali out with your $10, and as a courtesy, you can post in this thread.

 

[J.R.]

It should be .01% not 1% for how few claims they pay out.

Another bi product of the real estate nightmare.

When it costs 10% to sell your home, the system clearly has too many hands in the cookie jar, this is just another one of those items.

I normally agree with a lot of what you say, but I have to disagree with you here. I like the market to determine how many hands are too much in the cookie jar. If it truly costs 10% to sell your home and that is too much, the same could be said about health insurance agent who make 20%+ or more on premiums or life agents who make over 100%. Personally, I'd love it if we could negotiate individual and family health insurance premiums, but that is just me. Oh yeah, and get rid of the chargeback system and as-earned pay out. Who's with me?