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Thread: Is Title Insurance a scam?
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Old 07-06-2015, 10:37 AM
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twoplanekid twoplanekid is offline
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Originally Posted by Dr Winston O Boogie jr View Post
There are two different Title Insurances. One covers the bank and one covers the homeowner. The bank insurance is mandatory. Homeowner's is optional. I'll be closing on July 22 and I'm thinking of rejecting it.

I just looked at my paperwork. The cost for lender's title insurance is $25.00. The cost for homeowner's title insurance is $1,005. Huh? Same coverage.
You are correct about the two Insurances. As my lawyer friend says, you always want to avoid paying lawyer fees for litigation. I don’t believe the Developer would be of any help and certainly don’t want to sue them( The Developer) as they have more money to spend on lawyers than I . So, I added the personal one which was around $327.
Last edited by twoplanekid; 07-06-2015 at 12:27 PM.