Escrow & Title
A Mississippi buyer pays for a lender's title insurance policy. The lender's policy protects the lender for the term of the policy, which typically ends when:
AThe property is sold
BThe mortgage loan is paid off✓ Correct
CThe owner's title policy expires
DThe property is refinanced
Explanation
A lender's title policy insures the lender's mortgage lien. It diminishes in coverage as the loan is paid down and typically terminates when the mortgage is fully paid off, because there is no longer a lender's interest to protect.
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