Why new Title Insurance with Refinance?
Finally think it's time to refinance our 30 year fixed that's @ 6.675%. I don't think things will go much lower, do you?
I talked to Wells Fargo (who has the original loan) & a local bank where we do business and I'm just waiting to see what they come up with. I asked about fees etc. that we'd have to pay & both said "typical closing costs". What surprised me & what I don't understand is why I have to pay for title insurance. I'm not selling the house or even "buying" it. I got title insurance 2 years ago when we bought it. Nothing has changed - still the same property, still owned by us.
Seems like such a racket. Is this standard everywhere? I'm in Texas.