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Kathy Clifton - REALTOR®
Bald Head Realty
33 Pine Lane
Franklin, NC 28734
Direct: (828) 226-1074
or (828) 369-0000
fax (828) 369-0009
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Kathy Clifton did an outstanding job marketing our home in Watauga Vista.  She was professional and very knowledgeable about what we needed to do to sell it.  We followed her directions and the results turned out perfectly.  
 
Without a doubt, we would certainly give her any property we have to sell.  I encourage anyone who may be ready to sell to contact Kathy.  You will be very pleased, I promise you that.
 
 
 
Van and Patsy Capps
When we decided it was time to sell our Franklin, NC, vacation home, we contacted Kathy Clifton because of the recommendation of good friends who had used her as their realtor. We were very pleased!  Kathy was friendly, knowledgeable, helpful and always willing to answer questions. She worked diligently to get us a good offer (3, in fact) and was tireless in her efforts to get ‘the deal’ to close quickly. (The listing, sale, and closing all took place within a month’s time!). We gladly recommend Kathy Clifton to anyone searching for a dedicated realtor.
 
Ann and Jim Smith
Wow, our property was on the market for two days, we had five offers, and it was sold the second day. Kathy and her team made this happen. Everyone was very professional, friendly, and knowledgeable throughout the listing selling, and closing process. If we had more property to sell, we would want Kathy as our realtor again.  We had a wonderful experience.  Tim and Lydia
Just recently Kathy sold our property on Frazier Road.  We were very pleased with her honesty and hard work  in selling this property. We  will have Kathy sell our home as soon as we are ready. She is very trustful and we realize how hard she worked for us.
 
 
Ken and Kay Danzig
Kathy impressed us from the very start of our journey to sell our house. Having done her homework on our place, she showed up on day one with a definite plan for the marketing and sale of our home. She listened to our goals and concerns, gave her professional opinion, and together we moved forward. She was accessible to us at all times, and gave ready feedback to questions. She got us a great price and enabled us to move forward to the next phase of our lives. Thanks, Kathy! Rixey Wilcher
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Kathy Clifton is your local Real Estate Expert in Otto, Franklin, and Macon County North Carolina. Put my knowledge and years of experience to work for you – all my Real Estate Consultations are Free, and come with No Obligation. (828) 226-1074

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Title Insurance When Refinancing Your Loan

Lower interest rates have motivated you to refinance your home loan. The lower rate may save you a tremendous amount of money over the life of the loan, but you should also expect to pay the lender the typical closing costs associated with any new loan, including service fees, points, title insurance protection and other expenses.

Why do I need to purchase a new title insurance policy on a refinanced loan?

To the lender, a refinance loan is no different than any other home loan. So, your lender will want to insure that their new loan is protected by title insurance, just as the original lender required. Therefore, when you refinance you are buying a title policy to protect your lender.

Why does a Lender need title insurance?

Most lenders generate loans and then immediately sell those loans to secondary market investors, such as FannieMae.

FannieMae, in order to protect its security interest in the loan, requires title insurance coverage. Even those lenders who keep original loans in their portfolio are wise to get a lenders policy to protect their investment against title related defects.

When I purchased my home, didn’t I also buy a lender’s policy?

Perhaps. Who pays for the lender’s policy on a purchase loan varies regionally and by the terms of individual contracts.

However, even if you did buy a lender’s policy when you purchased your home, the lender’s policy remains in force only during the life of the loan that was insured. If you refinance, the old loan is paid off (the “life” of the loan expires) and a new loan is issued for which the lender will require a new title insurance policy.

What about my original title insurance policy?

When you bought your home, you purchased a Homeowners title policy. The Homeowners’ policy stays in force as long as you or your heirs own the home. When you refinance, your lender will often require that you purchase a new lender’s policy to protect their new security interest in the property. Thus, you are buying a policy to protect your lender, not a new Homeowner’s policy.

What could possibly have happened since I purchased my home which warrants a new lender’s policy?

Since the time that the original loan was made, you may have taken out a second trust deed on the house or had mechanic’s liens, child support liens or legal judgments recorded against you - events that could result in serious financial losses to an unprotected lender. Regardless if it has been only 6 months or less since you purchased or refinanced your home, a myriad of title defects could have occurred. While you may not have any title defects, many Homeowners do. The only way for a lender to adequately protect itself is to get a new lender’s policy each time you purchase or refinance your home.

Are there any discounts available for title insurance on a refinance transaction?

Yes. Title companies offer a refinance transaction discount or a short-term rate. Discounts may also be available if you use the same lender for your refinance loan and your original loan. Be sure to ask your title company how they can save you money.

Article by CLTA

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