This will be required to secure a loan that will protect
your lender against any problems that may arise with the title.
Not exact matches
This mortgage document is the
lender's last line of defense
against one of the worst
problems of the previous decade, mortgage fraud.
Title Insurance insures buyers or
lenders against potential loss of title (for example, ownership of the property you're buying) & / or
problems with the title.
While programs advanced by the U.S. Department of Housing and Urban Development (HUD) did not attract the attention of mortgage
lenders, changes in the way the industry is approaching this
problem — and the high risk of class - action lawsuits
against those institutions that do not act — are leading more
lenders to consider moving forward with mortgage modification programs.
The
problem for prospective purchasers of leases is that most banks and commercial
lenders insist on further investigation where a lease clause links increases in ground rent to RPI, and some of the smaller banks will refuse to lend
against such a lease at all.