Refinance transactions may be confusing for some property owners, especially when there are new contracts and agreements to manage. With the different risks and fluctuations in the market, lenders and property owners are finding it more challenging to work with parties they can trust. At Assurity Title, our company helps with all lender refinance transactions. We ensure that all parties meet the requirements necessary to render a successful deal at closing.
Given the unique factors that are present in lender refinance transactions, we make sure to keep you up-to-date on our title findings. We also monitor the transaction process of the deal and resolve new or outstanding claims as they arise. Our neutral experts have a wealth of experience working with all parties in commercial or residential closings, escrow, and title services.
When a new refinance transaction happens, a title company goes through the process of investigating the history of the title. Another title search is necessary because even if the same owners of the property are refinancing, there may be new issues that exist on the home’s title since the initial title search. We help with every phase of the process, from drafting insurance documents to performing additional title searches.
Title Refinancing
A new title must occur after every refinancing order as a way to protect the investment of the buyer. During this process, we take care of the title searching part, making sure that the title is clear before you invest. We act as your point of reference, facilitating the information exchange and accountability processes of the transaction.
When there is a new refinancing order, a new lender’s policy is also given to the new property owner, even if all of the parties are the same.
Title Insurance
Title insurance is necessary with refinance transactions and protects from mishaps later on caused by hidden liens or other existing issues on the title. The coverage can help decrease or cover legal fees if a claim on the property arises. Other reasons why title insurance is necessary:
- Facilitating the negotiation process
- Lien changes due to the death of the homeowner
- An ex-spouse lays claim on the property
- There was forgery on a document or deed on the mortgage
- An underage person or someone under duress signs the mortgage
At Assurity Title, we take care of all your lender refinance transactions transparently and quickly. With our two decades of experience serving statewide and local Tampa residents, we offer a wide array of title services.
How Does Refinancing Affect an Owner’s Policy?
A title insurance owner’s policy remains in effect regardless of your financing choice. Its validity adds an extra layer of protection if unforeseen issues not found during the title search emerge. As long as you or own the property, your coverage remains valid under the policy.
The refinancing title search and insurance process don’t have to be a hassle when you work with our agents at Assurity Title. We take the guesswork out of the transaction and work to ensure that you are in the know when it comes to policies and steps to take when refinancing.
