October 1, 2010
COMPANIES STOP ISSUING TITLE INSURANCE ON FORECLOSED HOMES!
STOP THE PRESS
In what could further aggravate the foreclose process, it was announced today that America's largest Title Insurance Companies will not issue Title Insurance on many homes in foreclosure.
Without title insurance, the home is not able to be sold except to a cash buyer who would not be able to sell it later where financing would be required.
This means the foreclosed home is essentially worthless.
If you recently purchased a foreclosed home, you should check your title policy for exclusions which could limit your ability to sell your home in the future. Contact a Jacksonville Foreclosure Defense Lawyer to discuss your situation.
