What is re-issue credit? (For Florida Residents)
A reissue credit for Title Insurance may be available to the party responsible for the
purchase of the title insurance policy if a title insurance policy has previously been issued
on the property (by any title insurance company).  The reissue credit involves a discount
from our underwriter's standard title insurance rates based on the face amount of the
previous title insurance policy.  To qualify for the reissue credit, a copy of a previous
title insurance policy applicable to this property must be submitted to the processor at
least three (3) days prior to closing.
It's your Legal Right. . .
A federal law called Real Estate Settlement Procedures Act (RESPA) entitles the individual
homeowner to choose a title insurance company when purchasing or refinancing residential
property.  Typically, homeowners don't make this decision for themselves, instead relying on
their bank's or attorney's choice; however, the homeowner retains the right.  RESPA makes it
unlawful for any bank, broker or attorney to mandate that a particular title insurance company
be used. Doing so is in gross violation of federal law and any person or business doing so can
be heavily fined or lose its license.  
What is Title Insurance?
Title Insurance is insurance against loss from defects in title to real property and from the
invalidity or unenforceability of mortgage liens.  It is available in many countries but it is
principally a product developed and sold in the United States.  It is meant to protect an
owner's or lender's financial interest in real property against loss due to title defects,
liens or other matters.  It will defend against a lawsuit attacking the title as it insures,
or reimburses the insured for the actual monetary loss incurred, up to the dollar amount of
insurance provided by the policy.
Why do we need Title Insurance?
Just as lenders require hazard insurance and
other types of insurance coverage to protect
their investment, nearly all institutional
lenders also require title insurance to
protect their interest in the collateral of
loans secured by real estate.
How much does is cost?
Most title insurance rates vary state to
state, please contact National Title
Solutions, Inc., for an accurate quote. In
addition to the insurance premium, most title
companies charge fees for searching the public
records and compiling a report, which is used
as a basis for issuing the insurance policy.  
Some states, like Florida, do not regulate
these fees and will therefore change from one
company to another.
We could have saved
money on closing costs
if we were better
informed.
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