Every year, millions of Americans go through the mortgage process without experiencing a single issue. Unfortunately, though, there are some who do, and the problems they run into could end up being quite costly, depending upon where in the process they arise. For this reason, experts continue to urge consumers to get title insurance, which can potentially save them thousands of dollars.

The problem is that many consumers may see this as yet another expense in what has quickly become the biggest purchase they're going to make in their lives, according to a report from the Nashville Tennessean. They might end up spending tens of thousands of dollars (or more) on the process and as a consequence, anywhere they can find to cut corners might be a wise one in their opinion. However, it's important for mortgage professionals to do all in their power to encourage the utilization of title insurance, because of how instrumental it can be in protecting buyers from far more serious financial losses in certain cases.

The fact of the matter is that this insurance is often perceived as being extremely short-term, which is to say that many believe it will only protect them during the closing process, but not after it, the report said. This is, in fact, not the case, and in fact some consumers have had problems with their mortgages crop up after a period of a several years or more and still been protected by this type of coverage.

What can mortgage professionals do?
For the reasons of these misconceptions, it might be wise for those on the other side of the lending situation to work with and educate would-be borrowers about all aspects of the process, instead of simply outlining the costs and allowing consumers to be scared of various aspects of closing costs and associated payments from the price tag. While sticker shock may be perfectly understandable when things can get into the thousands of dollars or more, the fact remains that most closing costs are vital to financially protecting all parties involved.

For even experienced consumers, the homebuying process can be a bit daunting and confusing, as well as intimidating. This is one of the big reasons why it's wise for mortgage professionals to do more to educate them about what they'll need to do each step of the way, so that they're more confident and prepared for the process overall.