Improved loan rates and terms often require refinancing of one’s mortgage. This can be a complicated process even under the best of circumstances, which is why the First Financial Title Agency of Minnesota recommends having the right protections in place to ensure you and your investment remain covered. As a leading title and escrow company in Burnsville, MN, local homeowners look to these agents for help with even the most complex real estate issues. This can include problems related to refinancing, during which an owners’ title insurance policy will prove highly beneficial.

What Is Owners’ Title Insurance?

Some pieces of property can have claims attached due to conduct by the previous owners. These claims can go on to affect new owners, whether they involve outstanding taxes, unpaid contractors, or issues related to ownership. In this case, title insurance is extremely important, as these policies can mitigate any previous issues and prevent current owners from incurring huge expenses. While many people obtain title insurance when first buying a home, it’s also recommended when refinancing your loan to get an improved rate.

What Are Some Common Issues That Can Arise?

There a number of problems that can crop up during the refinancing process. For instance, if a previous owner filed for bankruptcy, there could be pending claims you’re not aware of. There could also be liens against the property for failure to pay taxes, and these can easily be passed along to the new owner. Additionally, you might run into issues related to the property itself, such as easements or building rights.  

When you’re in search of an owners’ title insurance policy you can depend on, First Financial Title Agency of Minnesota provides this and many other essential services to homeowners in the South Metro area. Call (952) 831-5010 today to schedule an appointment with a skilled title insurance agent. You can also make use of the online contact form for answers to your specific questions.