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Frequently
asked Q & A regarding Title Insurance
Q:
I refinanced my home and was required to
buy a new lender's policy. This provides
coverage to me, right?
A:
No. You, as an owner, are only covered under
an owner's policy. All of your down payment,
equity, etc. is at stake due to perils of
title, should any arise. If you are refinancing
your property for a substantial amount more
than your original owner's policy, you should
seriously consider updating your Owner's
title policy to cover the new value of your
home.
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