Sub2 w/Ameriquest & bankrupt Bridgespan Title - Posted by Handy (MN)
Posted by Handy (MN) on April 13, 2006 at 07:41:42:
Looking at a Sub2 deal–$200k loan balance, FMV $270k, with some officially UNreleased judgements (seller has proof of payment, though). Loan is with Ameriquest (SCAMeriquest, according to seller), title insurance was through Bridgespan, which went bankrupt recently. Did they write title ins. for, say, Chicago Title or another reputable one that could mean title insurance is still in force, or is it possible it died with Bridgespan? Anyone have any experiences to relate with doing a Sub2 with Ameriquest and Bridgespan? I know there have been lawsuits won against Ameriquest, would this deal be too messy? Any info will help.