When navigating the complexities of real estate transactions, understanding the Annual Percentage Rate (APR) and its implications becomes even more crucial. The APR not only reflects the interest rate on a mortgage but also encapsulates various other fees, providing a comprehensive view of the loan’s true cost. This deeper insight into APR, particularly its relation […]
Title Insurance
Illinois Real Estate Closings: Your Comprehensive Guide with Plymouth Title Guaranty
From the initial offer to the final exchange of keys, Illinois real estate closings involve several critical steps, each requiring meticulous attention to detail and expert knowledge. The process of buying or selling property in Illinois is a significant undertaking filled with complexities and legal intricacies. Plymouth Title Guaranty stands as your indispensable ally, guiding […]
End-of-Year Title Insurance Review: What Changed in Illinois in 2023
As 2023 draws to a close, conducting an end-of-year title insurance review is crucial for real estate professionals and homeowners in Illinois, given the significant changes in title insurance regulations. A comprehensive overview of the key legislative changes impacting title insurance in Illinois this year is essential to stay informed and prepared. Major Changes in […]
GSE-Backed Loans: Comprehensive Analysis on Mandating Title Insurance
As the mortgage landscape in the United States undergoes significant shifts, federal authorities are actively laying the groundwork to ensure the interests of mortgage stakeholders. Notably, both chambers of the U.S. Congress are showcasing their commitment through the introduction of bills emphasizing title insurance on loans overseen by government-sponsored enterprises (GSEs). GSE-Backed Loans: Decoding the […]
Real Estate Transfer Tax in Illinois: A Guide for Home Buyers
As you venture into the world of home buying in Illinois, there are various costs and taxes you should be aware of. One such cost is the Real Estate Transfer Tax. As a title insurance agency, we routinely assist our clients in navigating these costs, ensuring a seamless and transparent property transfer experience. What is […]
Remote Notarization in Illinois: Impact on the Title Insurance Industry
In response to the work-from-home movement, remote notarization in Illinois came to fruition. Along with numerous other states, these notions sidestep the face-to-face commute for the closing process. While initially inspired by the COVID-19 pandemic, remote notary laws stay in place. Now, they play a big role in the future of the title insurance industry […]
Owner’s Title Insurance: An Essential Aspect of the Home Buying Process
Owner’s title insurance contains a fascinating history, dating back over 150 years to 1868. In the case of Watson v. Muirhead, the transaction conveyancer discovered that the property in question was under lien. Although an attorney advised the conveyancer that the lien was invalid, a court ruled that it was in fact valid, after all. […]
Owner’s Title Insurance: Why You Should Get a Policy Now
An owner’s title insurance policy is critical for protecting you from all types of issues you might have with the title of your home. It is essential and should never be overlooked by homeowners who want to make sure they are fully protected from title issues that could arise. Here, we will go over some […]
Public Record Errors Have a Tremendous Impact on Property Titles
Public record errors have a tremendous impact on property titles. Imagine this. You spend months searching for that perfect dream home. You gain preapproval and sign the contract. The closing process is going smoothly. All of the hard work was worth it, and it’s time to reap the fruits of your labor. Then, all of […]
The Difference Between a Title and a Deed
To most people, the words ‘deed’ and ‘title’ are interchangeable. But there are actually major differences between the two that are important to understand before you start the process of a real estate transaction. What is a Deed? A deed is the actual physical, legal document that confirms ownership of a property and typically has […]