2. Know what is meant by “closing.”

Closing (or “settlement”) is the point where all the title research is completed, the mortgage loan is approved, and all the paperwork is ready to be signed and recorded. Once all of the documents have been signed, the funds disbursed and the deed and mortgage recorded, the transaction has “closed.” In most cases, after closing, the house is all yours.

So, if the house is all mine, then why do I need title insurance?

• Know about escrow
• Know your closing
• Protect yourself
• It’s your choice
• One-time expense