There are few things in life more important than protecting your home. Remember that the best title examination or search cannot protect your equity and home from matters not appearing in the public records.

However, Title Insurance can protect you from:
• Documents executed under false, revoked or expired powers of attorney. • Improperly recorded legal documents. • Undisclosed heirs. • Failure to include necessary parties to certain judicial proceedings. • Defective acknowledgements due to improper or expired notarization. • Gaps in the chain of title. • Forged deeds, mortgage, wills, releases of mortgages and other instruments. • Deeds by minors. • Deeds and wills by persons lacking legal capacity. • State inheritance and gift tax liens. • Errors in tax records. • Claims by creditors of decedent against property improperly conveyed by heirs and devisees. • Deeds by persons falsely representing their marital status. • Issues of rightful possession of land.

Before you begin the search for your dream home, decide how much you can comfortably spend. Mortgage lenders most often will take into consideration all of the following:

• The size of your down payment
• Your job stability
• Existing debts
• Credit references and,
• Payment history.
Knowing your credit status and how credit agencies rate your credit also may be a deciding factor, especially when you begin talking to lenders. There are three main credit-reporting agencies that will, for a small fee, send you the most current credit report on file.
Experian - 1888-EXPERIAN (397-3742)
Equifax - 1800-997-2493
Trans Union - 1-216-779-2378 Lenders usually use the following two qualifying guidelines to decide how much of a loan you can manage:
• Your monthly housing expenses - mortgage payment, property taxes, insurance, etc. These expenses should total no more than 28 percent of your monthly gross income.
• Your monthly living expenses and any long-term debts - utilities, car and school loan, child support, health and car insurance, etc. These expenses should be no more than 36 percent of your monthly gross income.

Come back for more news and blog entries.

Thanks.
SCS