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Foreclosure crisis has chilling effect on buyers, title companies
An extended moratorium on home mortgage foreclosures could wreak havoc on the title insurance business. Even if banks quickly resume in pressing ahead with foreclosures, some buyers are likely to hesitate buying a home out of foreclosure amid concerns about ownership. A title insurance policy is issued whenever a home changes hands, guaranteeing that the [...]
About 3,500 state residents will get refunds totaling $393,000 from title insurance companies and agents, according to the state’s Department of Regulatory Agencies. The refunds are the result of an audit of about 14,000 residential closings in 2007 and early 2008 that found “significant errors in the calculation of title insurance rates,” DORA said. As [...]
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