title insurance: Why Owner's Title Insurance is Important!
- 09/13/09 08:14 AM
Just had an interesting situation with one of my clients who was purchasing a Fannie Mae REO. Property is under contract and everything was moving fine towards closing until two days before closing, when the attorney calls and says that there is a large federal tax lien that was filed before the foreclosure but the title company missed that lien and did not notify the foreclosing lender. What is even more interesting is that the title company wants to play hardball and not cooperate even though they issued a title policy insuring clean, marketable title. I know many people try to … (0 comments)
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Just had an interesting situation with one of my clients who was purchasing a Fannie Mae REO. Property is under contract and everything was moving fine towards closing until two days before closing, when the attorney calls and says that there is a large federal tax lien that was filed before the foreclosure but the title company missed that lien and did not notify the foreclosing lender.;)
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