• Variable Rate Commission

  • Enter your email address to subscribe to this blog and receive notifications of new posts by email.

    Join 1,148 other followers

  • Prophecies Fulfilled Exodus to Deuteronomy

    Prophecies Fulfilled Genesis

  • DMCA Notice

    https://ez1realty.wordpress.com/2017/08/06/dmca-notice-ez1-realty/

REO Buyers Should Have Title Advice

The uncertainty regarding flaws in the foreclosure documentation practices of a number of banks may have created “clouded” or unclear title issues for the buyers of REO homes. Purchasers of foreclosed homes absolutely should obtain title insurance, preferably working with a local title or real estate attorney.

The only problems I have seen is when the loan is sold between lenders. The title will show the old lender at the closing, while the pay off check will show the current lender. This is easily fixed by printing the proper paper work on record at the county assesors web site. I’m not sure why it takes 3-6 months to update a title, but that is the system we have to work with.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: