Explanation:
Title insurance:
Title insurance protects the insured from a financial loss related to the ownership of a property.
Mortgage payment:
A mortgage payment has four components: principal, interest, taxes and insurance.
Principal: The amount that pays down your outstanding loan amount
interest: The amount of money which needs to be paid every month to the bank
Taxes: The amount which needs to be paid to the Government on buying any property
Insurance: To protect our properties against damage caused.
