From the monthly archives: February 2019

We are pleased to present below all posts archived in 'February 2019'. If you still can't find what you are looking for, try using the search box.

What Does a Land Abstractor Do?

If you’re purchasing or selling a home, you may have heard the term “abstractor” come up a few times. A land abstractor, or title abstractor, is an important part of the closing process. But what is a title abstractor?

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What You Need to Know About Short Sales

A short sale can be a great way to get an amazing deal on a property. A short sale happens when the lender is open to accepting less than what’s still owed on a mortgage. A short sale can occur when the homeowner or property owner has fallen seriously behind in making payments. If the housing market is down, and the home’s value is below the remaining mortgage balance, the lender and homeowner may try a short sale to avoid foreclosure.

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Understanding the Role of a Title Commitment

If you’ve recently signed the purchase agreement on your first property, you might find yourself a little overwhelmed with some of the terms that can arise during the sale. Understanding the terms that arise is an important part of making sure you fully comprehend everything you’ve agreed to and avoid trouble later on. One of the more confusing items that new home buyers encounter is called a “title commitment.” This can also be called a “title report.”

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Three Title Nightmares When Buying a Home

If you’re going through the process of purchasing a new home, you know what an exciting and intense time it can be. If you’ve been ready to move since the moment you set eyes on your dream home, it’s easy to feel impatient with the closing process. But there’s a reason it takes some time to get your home processed. A title error that gets missed can cause you serious headaches down the road.

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Is a Reverse Mortgage Right for You?

As the Baby Boomer population gets older, millions of Americans are finding the struggle to keep up with the rising cost of living difficult. For homeowners, concerns about security and being able to maintain their homes may arise. If you’re in the over-62 crowd, you may have heard the term “reverse mortgage” and wondered if it could help you in your golden years. But the questions and myths surrounding reverse mortgages can be tricky to wade through.

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Getting Title Insurance for Your Foreclosure Purchase

Buying a foreclosure can be a great way to get a good deal on a home. Whether you’re purchasing a home to live in or you’re looking for a property to flip, a foreclosure can offer incredible savings. However, with a foreclosure, you have to be more careful to make sure your title is completely clean so no problems arise down the road.

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The Most Common Types of Real Estate Fraud to Look Out For

When it comes to big business, there’s always someone out there trying to take advantage of honest people. This is true in every line of business, but especially when it comes to real estate. Unfortunately, even when you’re careful, dodgy characters are sometimes lurking about with sketchy motives who will do anything to turn a quick profit—even theft.

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What Happens When A Missing Heir Shows Up?

Imagine you’ve just closed on the house of your dreams when you learn that the sale is being contested by a long lost relative of the previous owner. It sounds like the plot of an Agatha Christie novel: The Case of the Missing Heir. But if a missing heir shows up to stake a claim to a property you’re purchasing, the mystery can turn into a horror story very quickly. Fortunately, with title insurance, that scary story can have a happy ending.

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Understanding What a Title Company Does

You’ve found your dream home, and you’re all ready to sign the closing papers. But if all of the terminology feels a little overwhelming, you’re not alone. One of the most common questions new homeowners have is about the role of the title company in the purchase of their home. Here at Liberty Title in Minnesota, we love working with home buyers to help make the process as easy and understandable as possible. That’s why we’ve put together this guide to walk you through what a title company does.

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Top Title Insurance Myths

Most types of insurance cover the insured in case of future disaster. For example, auto insurance covers you in case of an automobile accident. Health insurance protects you when you get sick. And renters and homeowners insurance protect you in case something should happen to your home. But title insurance works to protect buyers and sellers from past problems that can affect the property’s title.

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