Title insurance should be 50% of what you paid 2 years ago, and paying for a new flood certificate is all sop. The same or a new lender all require it, things change, including flood zones.

We refinanced back in Nov and had to pay both!! Were in VA! We had like 8 quotes and they all had them listed!! We even stayed with the same bank!!

Robert,
Title insurance is a guarantee of review of the past, not the future. Your previously purchased policy doesn't cover the potential of title clouds that may have occured since that last closing. This is why you'll need a new policy.

If you have your loan officer request a discounted re-issuance from the same title insurance provider, you can often get a somewhat decent deal that way.

Luck!
Dave Donhoff
Strategic Equity & Mortgage Planner

Thanks!

Berniek, I'll check - that's interesting and gives me something to chase down.

Dave, I'll mention that to our loan officer. I've actually been rather pleased with him, because he tries to answer my questions in the same spirit you do!

I really appreciate the replies. I thought after we got through the original purchase that we had learned much, and were pretty comfortable with the process. My goodness, when we went to refinance and I started looking at things, I felt like a babe in the woods all over again.

Robert

I would advise you to purchase Title Ins. It protects you down the road if the closing attorney is sloppy and does not complete the necessary filing of documents.
I say this because we had an issue which almost delayed our closing. We discovered the error 22 years later. We did not have Title Insurance, but did have a signed document from the attorney guaranteeing a 50 year clear title. That was a relief, getting the old paperwork filed was another story. We had to have proceeds held from the sale until the work was completed. My current attorney ended up filing the paperwork that was not done 22 years ago. The previous attorney did pay for the filing fee, but we paid the price for his error until it was cleared. You always need to protect yourself. As you can see things can surface unexpectedly years later.