My lender has a mortgage title insurance
policy on my property. Why isn't that enough?
Any person or financial institution that
lends money on real estate wants that investment protected.
Cambridge Title provides mortgage title insurance policies to assure the
lender that the mortgage is a valid first lien protected against hidden
as well as known defects in the title as insured. Such a policy
affords the only way a lender can be certain about the tile which may be
acquired in the event of a foreclosure.
Unfortunately, this does not benefit the
owner in the event of a claim, for a mortgage title insurance policy
protects only the lender's interest in the property, not the current
owner. That is why Cambridge Title provides owners title insurance
policies to protect the owner's interest in the piece of property.
Purchasing your owners lender orders the mortgage title insurance policy
can result in cost savings to you.
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