Financial Title Closed up Shop

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Real Estate Agent with RE/MAX Gold DRE #00697006

Financial Title closed its doors this morning in California, Arizona and Texas. When I arrived at the office, news was already buzzing. Rumor has it that Financial Title notified its employees last night at midnight that the company would cease operations today at noon, and nobody had a job there anymore.

Fortunately, I changed all my escrows to Chicago Title over the past couple months, and I have no open escrows at Financial Title. Word has it that First American Title might assume its business, but that's only through the rumor mill at this point. At the least the people I used to work with at Financial Title saw the writing on the wall and split several months ago. For other agents, home buyers and sellers, this could be a trying time.

elizabeth weintraub sacramento land park real estate agent

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Rainmaker
218,484
William Collins
ERA Queen City Realty - Scotch Plains, NJ
Property and Asset Management

Elizabeth,

Thanks for the post. The mortgage meltdown does not discriminate. Any and all businesses connected to the real estate industry are subject to falter in this business climate.

Jul 30, 2008 03:12 PM #1
Rainmaker
1,916,848
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

elizabeth

How do you make time for all your work.

Sincerely

Tom Braatz

Jul 30, 2008 03:48 PM #2
Ambassador
1,878,678
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Elizabeth, our office put out a notice on this one today as well. Many struggling in the housing-related functions.

Jul 30, 2008 04:01 PM #3
Rainmaker
2,189,557
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Hi William: It's sort of like natural selection. The best and strongest will survive.

Hi Tom: How do I make time for all my work, you ask? Let me tell you, I am so organized juggling the kitchen remodel with home showings with closing escrows with writing for my About.com site and posting on Active Rain that yesterday morning I put my pants on inside out. I could not figure out why the zipper flappy thing was on the inside.

Hi Gary: I hope you didn't have any escrows at Financial Title. But knowing you, as much as I know about you, I'd say you didn't.

elizabeth weintraub sacramento land park real estate agent

Jul 31, 2008 08:04 AM #4
Rainmaker
416,365
Mesa, Arizona Real Estate Mesa Arizona Realtor
Homes Arizona Real Estate LLC - Mesa, AZ
AzLadyInRed

Elizabeth, LOL....I'm reading your story about putting your pants on inside out. LOL...anyway, title companies are definitely negatively affected by this fiasco as well...;-)

Pepper

Jul 31, 2008 01:34 PM #5
Ambassador
583,935
C Tann-Starr
Tann Starr & Associates, Inc. - Palm Bay, FL

Elizabeth, things are really getting more difficult in every sub-category of the real estate industry. It almost makes me not want to read the news... This too shall pass, but when? I hope the market turns around soon. The Prez signed a new bill. Lets see how that turns out for us...

Aug 01, 2008 01:26 AM #6
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Rainmaker
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