RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

7 Things to Know about Title Insurance

October 8, 2015 2:00 am

Many factors play a role in the process of purchasing a home – none understood less than title insurance. Put simply, title insurance protects your investment from title issues that may arise after buying or refinancing a home, such as lost, forged or incorrectly filed deeds or liens on a property, according to the National Association of Insurance Commissioners (NAIC).

To gain a clearer understanding of title insurance, take a look at the facts recently shared by the NAIC:

• Lenders typically require title insurance; however, you are not required to use their recommended title company or agent. Keep in mind that by federal law, affiliated (referral-based) relationships must be disclosed to you in writing.

• Title insurance can be purchased from a licensed title insurance company or agent. Attorneys may also have the authority to sell title insurance, depending on their jurisdiction.

• When comparison shopping, inquire about services and fees, both included in the title premium and not. Be sure to ask about discounts.

• When selecting a policy, take time to assess your options. As stated above, your lender will likely require a lender’s policy for the amount of the loan, which protects the lender from title issues that may occur after buying the home. Though you may have to pay the policy premium, coverage will decrease as the mortgage is paid off.

• Though you are not required to buy one, an owner’s policy for the full price of the home (and potential legal costs) protects you if title issues emerge after purchasing the home. Coverage will remain as long as you own an interest in the home.

• Depending on your area, you may also have the option to purchase an enhanced owner’s policy, which covers approximately 20 percent more than a standard owner’s policy.

• Policy endorsements may be available to you, as well. An endorsement, which you may or may not have to pay for, covers a specific issue, such as a mechanic’s liens.

Source: NAIC

Published with permission from RISMedia.


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10 Steps to Keep Your Car in Tip-Top Shape

October 7, 2015 1:54 am

Taking a proactive approach to preventative vehicular maintenance helps ensure safety, reliability and fewer unexpected repairs. Whether you do it yourself or take your car to a professional service technician, the non-profit Car Care Council recommends 10 basic procedures to keep your vehicle operating at its best:

1. Check all fluids, including engine oil, power steering, brake and transmission, as well as windshield washer solvent and antifreeze/coolant.

2. Check the hoses and belts
to make sure they are not cracked, brittle, frayed, loose or showing signs of excessive wear.

3. Check the battery
and replace if necessary. Make sure the connection is clean, tight and corrosion-free.

4. Check the brake system
annually and have the brake linings, rotors and drums inspected at each oil change.

5. Inspect the exhaust system
for leaks, damage and broken supports or hangers if there is an unusual noise. Exhaust leaks can be dangerous and must be corrected without delay.

6. Check engine performance
to make sure it is delivering the best balance of power and fuel economy and producing the lowest level of emissions.

7. Check the heating, ventilating and air conditioning (HVAC) system as proper heating and cooling performance is critical for interior comfort and for safety reasons such as defrosting.

8. Inspect the steering and suspension system annually including shock absorbers, struts and chassis parts such as ball joints, tie rod ends and other related components.

9. Check the tires, including tire pressure and tread. Uneven wear indicates a need for wheel alignment. Tires should also be checked for bulges and bald spots.

10. Check the wipers and lighting
so that you can see and be seen. Check that all interior and exterior lighting is working properly. Replace worn wiper blades so you can see clearly when driving during precipitation.

Source: Car Care Council

Published with permission from RISMedia.


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