you the money, but wants a mortgage on your home. The
mortgage, once recorded in the Centre County Recorder of
Deeds Office, tells the public that the home is security for
payment of the mortgage.
Banks require title insurance as part of the mortgage process
to protect the mortgage against title defects. The title
insurance agent, often an attorney in Centre County, checks
the history of the title to the home and then issues the title
insurance policy.
At the settlement (or closing) in Centre County, the title
insurance agent acts as settlement agent to oversee the
closing. A settlement statement is prepared that details how
much money you pay as buyer and where that money is going.
The settlement statement also shows how much money the
seller is receiving and details the payments made to others on
the seller's behalf.
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sheet. The buyer will sign a note in favor of the bank which is the buyer's personal
promise to pay the bank. The buyer will sign a mortgage which secures payment. The
bank may foreclose and sell the home if the buyer defaults in paying the mortgage.
Also at settlement, various documents are signed by the buyer as part of the bank's
settlement process.
Our office provides title insurance and settlement for many home purchases. Let us
make your home purchase a smooth transaction.
Commercial real estate
Our office provides a full range of services in commercial transactions. Whether a small
office building or business or a multi-million dollar apartment complex, we will be
prepared to meet your real estate closing needs.
Attorney at Law
Suite 202 110 Regent Court
State College, PA 16801
(814) 238-0760
www.ffarber.com