insurance

Can title insurance save your home?

What should I do if I'm purchasing a foreclosure?
Next
6 of 9
Back
What should I do if I'm purchasing a foreclosure?

If you're buying a foreclosure, you definitely want to purchase an owner's policy.

"This is a time when, as a buyer, I'd want to make sure I had that policy," says Joseph Pigg, vice president and senior counsel for the American Bankers Association.

Before closing, get a copy of your title insurance policy and read it. Pay special attention to Schedule B, where the title company spells out what it won't cover, says Georgette Chapman Phillips, professor of real estate and law at the University of Pennsylvania in Philadelphia.

"Schedule A giveth, and Schedule B taketh away," she says.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Jay MacDonald

Why Obamacare will survive

Health care subsidies under the Affordable Care Act should easily withstand a court challenge based on word choice.  ... Read more

advertisement
Partner Center
advertisement

Connect with us