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February 2015 Archives

Importance of title insurance in real estate transactions

Many people in Delaware who are preparing to purchase a home may wonder why they need to bother with purchasing title insurance. People may especially think this small purchase is unnecessary when they are buying a home that has been owned by a single owner for many years. However, failing to purchase this insurance can be a big mistake.

Understanding mortgage liens and title theory

Delaware homeowners may be confused about how mortgage loans, liens and property titles work. For example, many people view mortgages as loans made to facilitate the purchase of real estate. However, a mortgage is not technically a loan. Rather, it is an interest in the property, which the lender holds as protection against financial loss should the borrower fail to meet his or her obligation to pay the debt.