Lizeth GeorgeCommon Bond Title offers a cost-effective insurance option for home equity line of credit (HELOC) loans under $500,000, providing comprehensive title insurance coverage beyond just Errors and Omissions. This insurance is available for 1-4 family residential properties or condominiums used as second mortgages. The policy is priced at just $50, and you can add an EL2 endorsement to protect against forgery and fraud for an additional $10.
The policy covers:
- Discrepancies between the grantee listed on the policy and the grantee on the last deed of record
- Mismatches in the legal description between the policy and the last deed of record
- Liens recorded after the most recent Full Value Deed
- Issues with priority for future advances and/or variable interest rates
To activate this affordable title insurance for your HELOC products and safeguard your credit union, contact Common Bond Title at 205-421-1010 or email Mailbox@CommonBondTitle.com.
