Going through the mortgage process and see $1500 for owner's title insurance. I have some questions I hope you all can help me answer. I know the prevailing thought is to buy it. Peace of mind, what ifs, etc. We are buying this house from my parents and have lived in it 7 years. I've paid the mortgage for that entire period. There was one previous owner. He died, she moved to another area of the state.
1. I'm thinking of opting out. It's been 7 years without issue. Am I crazy?
2. If I do opt in, can I shop this around? Hunting around the forums and internet searches seems to point me to this ($1500) being an inflated price. House is worth about $200K in rural Michigan if that helps.
Thanks in advance for your wisdom on this.
CH7 BK Discharged 10/16
Oct/Nov 2016: EQ 632 TU 532 EX 573
Feb 2017: EQ 695 TU 673 EX 670
March 2017 EQ 702 TU 676 EX 673
April 2017 EX 683 (TU & EQ unknown)
May 2017 EQ 695 TU 685 EX 693
Feb 2018 EQ 704 TU 687 EX 694
9/24/20: 4 years from discharge FICO 8: EQ 751 EX 765 TU 766 FICO 9 EQ 814 EX 804 TU 821
