Have you ever considered how much you pay in rent over an extended period of time? It is probably a lot more than you realize. The amount you spend for rent each month could be applied to a mortgage, not only building equity in your own property, but, in most cases, substantially reducing the Federal and State income taxes you pay each year. And, what happens to your rent money? It’s gone! There’s no interest, no equity, no return. To determine your home-buying ability, call your real estate agent or lender. Here’s a chart to help break down how much… read more →
Do you feel like you are drowning in alphabet soup? Acronyms have become common-place in the title insurance industry. In fact, acronyms have come so far that there are acronyms of acronyms! One of the newest is TRID, an acronym for TILA-RESPA Integrated Disclosure Rule. Some acronyms are part of an industry group or association, such as ALTA, NAHB, DOI, or DFR; sometimes an acronym may describe certain standards. There are so many acronyms that it can be confusing and certainly overwhelming. The table below contains some of the industry’s most commonly used acronyms and their meanings.
In order to truly understand the benefits and limitations of title insurance, an understanding of what “title” is, is necessary. For an even more concise understanding of title insurance, please visit our FAQ page. The types of real rights, that is, interests in immovable property, that Louisiana law recognizes are ownership, personal servitudes, predial servitudes, and such other real rights as permitted by law. Ownership is the real right that purchasers of residential real estate are most concerned, and thus, this part will be dedicated to that land interest. So, two questions need addressing: 1) How is ownership defined in Louisiana?, and… read more →
Whether you are purchasing a home or selling a house, knowing what to expect and being prepared at the “closing” can help eliminate stress and result in a pleasant experience. Although the settlement process can vary from state-to-state, here are some common items that may be required from you at closing and can help your closing go as smoothly and quickly as possible: » Closing Instructions » Purchase Agreement » Valid Photo Identification » Amendments or Addenda » All Closing Party Members If Applicable: » Buyer(s) Pre-Approval Letter » Home Warranty Application » Payoff Authorization to Release Information » Association/Condominium… read more →
In order to truly understand the benefits and limitations of title insurance we’re breaking it down for you in a four-part series. Last week was Part 2: What is the “public records doctrine” and why does it matter? The remaining topics to cover are: Part 3: What is a “title examination” and why is it important? Part 4: Title insurance basics Part 3: What is a “title examination” and why is it important? An attorney may perform the search of the public records and examine the records himself and then issue the title opinion to the client. More often than… read more →
The closing process is a relatively standard procedure no matter which title company you choose. At 110 Title, we strive to make this process as easy and streamlined as possible for the buyer and seller. 110 Title is focused on 110% customer service at every closing. A closing is a term used for the point in time at which the title to the property is transferred to the buyer and, generally, a mortgage (or “deed of trust”) is given by the buyer/borrower to the lender. Step 1: Lender provides you with a Good Faith Estimate Some information about the costs associated… read more →
We first posted the story of 110 Title about three years ago. We’re posting it again now because we believe it is the backbone of our company. We hope you enjoy learning more about 110 Title and how we came to get our name. *** My father and I are frequently asked, “What is “110” anyway?” As some may guess, it does have to do with the old cliché of giving “110 %”. However, thanks to an old, grey headed, tough as nails, hard lined, “do-it-right-or-not-at-all” football coach that Jack Mendheim, (the owner), Blake (Jack’s oldest son and the owner of 110 Builders,… read more →
Lender’s Policy If you’ve ever mortgaged a home, chances are you were required to purchase a title insurance policy. This lender’s policy (often called a loan policy) is required by most lending institutions as a way to insure their security interest in the property. This policy protects the bank or other lending institution for as long as they maintain an interest in the property (typically until your mortgage is paid off). Owner’s Policy However, as a buyer, you also want to protect your investment – and the ownership rights that come with it. This is why it’s wise to purchase… read more →
Are you a Realtor or Mortgage Lender and looking for a condensed summary of the new TILA-RESPA Integrated Disclosure (TRID) rules? If so, here is a downloadable information guide that should provide you with answers to most of your questions as it relates to how the new rules will impact your day to day operations. Are you a Consumer and want to know more about the disclosures you receive from your lender during the lending process? If so, our information guide will likewise provide you with all of the necessary knowledge to understand what can at times be a complicated process.… read more →
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