3,345,091
That is a lot of questions Caroline Gerardo
I am in an escrow state. Don't know how that will all play out. Only time will tell, I guess.
Highly unlikely it will benefit the borrower ... why would it? HA!
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Steffy Hristova
Tempe, AZ
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Kris Collis, Associate...
East Stroudsburg, PA
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Steve Higgins
Kelowna, BC
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Fred Griffin Florida R...
Tallahassee, FL
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Caroline Gerardo
Newport Beach, CA
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Ray Henson
Elk Grove, CA
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
1,052,211
Being in an escrow state (AZ) I can't wrap my head around this, HOWEVER in attorney states don't they research chain of title anyway?
So the title would NOT be insured by insurance co but by attorney?
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Kris Collis, Associate...
East Stroudsburg, PA
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Anna "Banana" Kruchten
Phoenix, AZ
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Ray Henson
Elk Grove, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
3,587,960
Thanks for pointing this out. Isn't sounding good for buyers particularly in escrow states which AZ is. I will look more into this when I've got more time. Much appreciated Caroline!
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Kris Collis, Associate...
East Stroudsburg, PA
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Candice A. Donofrio
Fort Mohave, AZ
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Steve Higgins
Kelowna, BC
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Fred Griffin Florida R...
Tallahassee, FL
3,125,842
Like the price to buy a home isn't high enough! I fail to understand the reasoning behind a decision like that.
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Kris Collis, Associate...
East Stroudsburg, PA
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Candice A. Donofrio
Fort Mohave, AZ
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Steve Higgins
Kelowna, BC
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Fred Griffin Florida R...
Tallahassee, FL
6,393,609
Back in the 80-90's when I started investing it was standard practice to get an abstract and an attny opinion letter.
Never saw a title insurance policy until a few properties we bought in 2000.
The first option was less expensive and led to some interesting reading.
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Sally Crane
Unity, WI
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Fred Griffin Florida R...
Tallahassee, FL
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Bob Crane
Stevens Point, WI
1,311,397
News to me. I doubt if we will see any change in how we do business here.
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Steve Higgins
Kelowna, BC
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Fred Griffin Florida R...
Tallahassee, FL
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Ray Henson
Elk Grove, CA
2,684,109
If the Lender settles for "an opinion", instead of a Mortgagee's Title Insurance Policy, can the Buyer still opt for an Owner's Title Insurance Policy?
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Ray Henson
Elk Grove, CA
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John Juarez
Fremont, CA
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Candice A. Donofrio
Fort Mohave, AZ
2,781,173
In a world over-whelmed with small print, endless caveats, never-ending cause & effect dynamics plus ignorance, do we really need more regulations, laws, legalese and deer in the headlight foods? This is the wrong direction to travel in although it might serve purposes. I say simplify, & again simplify
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Ray Henson
Elk Grove, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
4,936,705
Wow, I did not hear of that one Caroline, I will look into it.
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Steve Higgins
Kelowna, BC
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Ray Henson
Elk Grove, CA
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John Juarez
Fremont, CA
461,083
Reading the article, it appears to benefit the Lenders and Attorneys. I cannot see a benefit to the Homeowners. Seems that selling a loan to Fannie Fae in the future could introduce more fraud in the system without proper documentation of Title Insurance for the loan. How is this a good thing for the average homeowner ? and more importantly, the Taxpayer who will be the one paying for the defaults and Title Claims?
Our government has abandoned the average Taxpayer in lieu of special interests groups.
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John Juarez
Fremont, CA
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Ray Henson
Elk Grove, CA
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Fred Griffin Florida R...
Tallahassee, FL
378,517
I put far more weight in a title opinion. (Attorney state here in GA).
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Ray Henson
Elk Grove, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
344,603
Is this about attorneys protecting their title company clients?
How does process for buyer change if chain of title discloses an unsatisfied mortgage? How is satisfaction brought to fruition?
900,128
I am not sure how the attorney opinion letter affects the consumer. If I understand it correctly, it is applicable to mortgage loan sales to Fannie Mae and is not part of the property conveyance process per se. What am I missing? In Connecticut, we are an attorney state.
901,535
I hadn't heard. I'll have to get more info. We're an attorney state. Having lived and worked in a title state it seems like we function very similarly.
5,216,409
Many issues here. Primary is preserving the chain of title insured and future liability for past transgressions. What is the financial capability of the opinion letter provider? What is the future prognosis if provided by a law firm? Not sure future buyers or lenders won't have issues?
3,164,294
I'm in an attorney state and title opinions have provided good title and buyers have bought title insurance for decades. I totally think it's fine.