This is a commonly asked question. Each time that you refinance, or put a new mortgage on the property, it is considered a separate event. If there is a new lender, or simply a new loan, that new loan must be insured. In addition, a new title search must be obtained to make sure that there have been no intervening liens, or title defects since the time that you purchased or last refinanced the Property.
For a refinance transaction, a new lender’s title insurance policy must be issued, not a new owner’s policy. As such, the cost of the title insurance should be less then when you purchased. The cost of title insurance is regulated by law, and in the case of a refinance will be based on the amount of the new loan.

If you have any questions about this process, please give me a call at 973-898-7300 x126. I would be happy discuss it with you.

You may also find more information on Refinancing on my web site, www.martyeagan.com.