Title and Mortgage

CHOOSING A LENDER

  1. Always choose a lender that will be with you from the first step until closing. His or her guidance and service is crucial in the success of your purchase.
  2. Ask lots of questions in order to find out exactly what can be tailored to your specific needs and expectations.
  3. Always review the available options.
  4. Discuss the long term responsibilities you have with the lender. Find out what your options may be in the future.
  5. Take the time to learn and understand the process. Keep your Elfant Wissahickon Agent in direct communication with your lender.

Here are some resources for qualified Lenders in this area:

Freedom Mortgage
John Coneys / Vice President and Branch Manager
100 West Germantown Pike
Plymouth Meeting, Pennsylvania 19462
Cell: 610-322-4886
John.Coneys@FreedomMortgage.com
www.freedommortgagenow.com/john-coneys

Loan Depot
Craig Smith / Mortgage Loan Originator
175 Strafford Ave. Suite 206
Wayne, PA 19087
Office: 215-689-2709
Cell: 215-327-8652
crsmith@loanDepot.com
www.craigsmithloans.com

First Choice Loan Services
Matt Lynch / Senior Loan Officer
729 Grive Ave. Suite #7
Southampton, PA 18966
Office: 215-469-4668
Cell: 610-209-5970
mlynch@fcbmtg.com
mlynch.fcbhomeloans.com

CHOOSING A TITLE COMPANY

Elfant Wissahickon Realtors in affiliation with Northwest Abstract and Class Abstract, can provide all your title insurance requirements. Your Agent will go over the details and the schedule for this step in the home buying process.

WHAT IS TITLE, A TITLE SEARCH AND TITLE INSURACE?

TITLE:
Legally valid ownership of real or personal property, and the documentary evidence of that ownership, such as a deed, certificate of title, or bill of sale.

TITLE SEARCH:
A search of public records to attempt to find any defects in a chain of title to real property; usually conducted by a title company or professional title abstractor, and resulting in issuance of an abstract of title, certificate of title, preliminary title report, or title insurance policy.

TITLE INSURANCE:
Insurance against losses resulting from the passage of legally invalid title, issued by a title insurance company after a title search by that company has established that legally valid title exists in the seller, who then is able to pass that title to the insured. One kind of policy covers owners, and can carry extended coverage against non-standard defective losses; another covers lenders to the extent of their loan losses resulting from legally invalid title, with the amount of coverage diminishing as loan principal is amortized. Most title insurance policies are similar, and are issued by companies belonging to the American Land Title Association (ALTA).