[quote=bearishgurl]Moneymaker, if you have purchased that same property or refied it in the last 3 years (is this still correct, HLS?), I believe you will qualify for a “short-term rate” on your ALTA title policy. This is a discount off the regular rate as they will search for liens against you or the property which were filed in the last three years only.
If you are eligible, be sure to ask your escrow officer for the “short term rate” on your title policy.
Most lenders who do refis require an *new* ALTA title policy, even if you just purchased or refied the property <=1 year ago. The exception is a HELOC lender who may conduct their own title search before extending the line of credit. The outcome of this search will help them to determine the amount of credit to extend to the property owner (if any). If these lenders DO require a title policy, they will usually pay for it.[/quote]
edit: Clarification that an "ALTA" policy is a lender's title policy and a "CLTA" is an owner's title policy, purchased upon title transfer. The "CLTA" policy is significantly more expensive that an ALTA policy, for obvious reasons.
Sorry for any confusion.