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Why does the hard money lender need title insurance

Hard money lenders want title insurance because it protects both the borrower and the lender. In the event there’s any issues with the property, and there are competing claims of ownership for the property – then title insurance helps cover the losses incurred by the party purchasing the property. In some instances where the property is “risky,” due to competing claims, or risks of litigation, Delancey Street may ask for title insurance.¬†