Title insurance

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After Foreclosure, a Focus on Title Insurance

After Foreclosure, a Focus on Title Insurance


By RON LIEBER
Published: October 8, 2010

When home buyers and people refinancing their mortgages first see the itemized estimate for all the closing costs and fees, the largest number is often for title insurance.

This moment is often profoundly irritating, mysterious and rushed — just like so much of the home-buying process. Lenders require buyers to have title insurance, but buyers are often not sure who picked the insurance company. And the buyers are so exhausted by the gauntlet they’ve already run that they’re not interested in spending any time learning more about the policies and shopping around for a better one.

Besides, does anyone actually know people who have had to collect on title insurance? It ultimately feels like a tax — an extortionate one at that — and not a protective measure.

But all of the sudden, the importance of title insurance is becoming crystal-clear. In recent weeks, big lenders like GMAC Mortgage, JPMorgan Chase and Bank of America have halted many or all of their foreclosure proceedings in the wake of allegations of sloppiness, shortcuts or worse. And a potential nightmare situation has emerged that has spooked not only homeowners but lawyers, title insurance companies and their investors.

What would happen if scores of people who had lost their homes to foreclosure somehow persuaded a judge to overturn the proceedings? Could they somehow win back the rights to their homes, free and clear of any mortgage? But they may not be able to simply move back into their home at that point. Banks, after all, have turned around and sold some of those foreclosed homes to nice young families reaching out for a bit of the American dream. Would they simply be put out on the street? And then what?

The answer to that last question may depend on whether those new homeowners have title insurance, because people who buy a home without a mortgage can choose to go without a policy.

Title insurance covers you in case people turn up months or years after you buy your home saying that they, in fact, are the rightful owners of the house or the land, or at least had a stake in the transaction. (The insurance may cover you in other instances as well, relating to easements and other matters, but we’ll leave those aside for now.)

Continue reading…NEW YORK TIMES

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© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in assignment of mortgage, foreclosure, foreclosure fraud, foreclosures, Old Republic Title, STOP FORECLOSURE FRAUD, title company, Title insurance2 Comments

North American Title Complaint to California–Fraudulent Documents

North American Title Complaint to California–Fraudulent Documents

North American Title Complaint to California–Fraudulent Documents

From: Brian Davies

Complaint to the State of California on title and escrow fraud. Security interest not perfected. Married sole and separate. Not single. Never can a married man ever be listed as single. Let alone I was married and they never got a quit claim release.

[ipaper docId=38476963 access_key=key-2h0zxem20tvkxaiflc52 height=600 width=600 /]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in lennar, north american title, title company, Title insurance4 Comments

HUGE |Here comes the Title Companies

HUGE |Here comes the Title Companies

OLD REPUBLIC TITLE:

The Company will not insure title to any property which has been foreclosed by Ally Financial, Ally Bank or GMAC until further notice.

Short and sweet.

Source: MARKET TICKER

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in assignment of mortgage, chain in title, conflict of interest, CONTROL FRAUD, corruption, deed of trust, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, GMAC, insurance, investigation, mortgage, Old Republic Title, robo signers, stopforeclosurefraud.com, Title insurance1 Comment


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