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Mortgage Loan Glossary - 'T'

Use the alphabet letters below to navigate to the words in this glossary.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

- T -

Taxes

Please see Real Estate Taxes.
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Title

The evidence of ownership in a property. Title can refer to the documents, such as a deed, which proves who owns a property. Title documents are on public record at the county courthouse.
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Title Insurance

Title insurance insures property owners as well as lenders against any title disputes that may arise in the future.
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Title (Insurance) Company

A company that researches the legal owner of a property, as well as issues insurance to a lender and/or homeowner against a loss that could result from a title dispute. Before the closing, a title company will search and collect all the public records of the subject property's ownership. The title company checks these records to find out who the legal owner is and to see if there are any claims against the property, such as mortgages, liens for unpaid real estate taxes, judgments and wills.
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Truth-In-Lending Disclosure (TIL)

A document provided by the lender that discloses the terms and conditions of a mortgage loan, including the repayment schedule, APR, the amount financed and other charges, as required by federal law.
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