Why Some Refinancing Borrowers Leave Money on the Table: The Issue of Reissue Rates

Re-Blogged with permission via: http://www.mtgprofessor.com/A%20-%20Title%20Insurance/Reissue%20Rates.html posted February 25, 2012 Ten years ago, Kenneth Harney wrote an excellent series of articles on why many refinancing borrowers pay too much for title insurance. In one article, published June 9, 2002 in the Baltimore Sun, Harney stated: “No one knows how much American homeowners lose annually by overpaying title premiums when they refinance their mortgages. Even title insurance industry officials admit the problem is substantial. They say some consumers could save 50 percent or more at refinancing if they’d simply memorize two words: “Reissue rate.” Use them as a mantra at your next refinance.”  Not much seems to …