Posted by Thomas on September 14, 2003 at 21:32:01:
Even if the title closing company goes out of business, the underwriting insurance company who actually does the title insurance policy should still be in business or sold the policy to some other insurance company. Have them check their paperwork to find out the actual name of the title insurance company who issued the policy and contact them directly.
Stolen House? - Posted by Sonjia
Posted by Sonjia on September 13, 2003 at 17:21:26:
I’m working with a seller on a potential deal, but I feel all is lost.
Here’s the situation: The seller was in debt to the IRS to the tune of $40k and filed bankruptcy last year to avoid foreclosure by the IRS. The IRS debt was cured, but the bankruptcy trustee found that the deed to the house was never recorded for the seller. The trustee recently took the house and put it on the market. The sellers were never behind on the mortgage or anything. The sellers are now in a legal battle to try to get things right, but they fear they will lose their house. They live in Maryland. Is there anything that can be done? They don’t care much about keeping the house for themselves. They just want to be able to collect money if the house is sold. What, if anything, can I do to help them?
Any advice for a newbie would be helpful. Thanks!!
Re: Stolen House? - Posted by JD
Posted by JD on September 13, 2003 at 20:50:46:
Tell them to hire a real estate attorney.
Re: Stolen House? - Posted by Jerry Martin NC
Posted by Jerry Martin NC on September 13, 2003 at 19:00:21:
Tell him to contact his closing agent and file a claim on the title insurance.
Re: Stolen House? - Posted by John(IL)
Posted by John(IL) on September 14, 2003 at 14:04:02:
What do you do when the title company closes up shop and goes out of business??