[Grovenet] question

[Allen Warren]

Interesting tidbit . . . I phoned a title company we've used in the past and asked them about title insurance.  What the rep. said is that almost every lending institution requires a title search/insurance.  She said it wasn't 100% that *ALL* lending institutions require it but she stated that in her years in the business, there's been few exceptions, and that goes for a refinance as well.  Whether it be a new loan, a refinance or multiple refinances of the same property, each time almost all lending institutions require the title search/insurance.

In thinking about a title search on a refinance, I won't even BEGIN to go down the rat-hole of a "what if" scenario where a refinance title search found something the original home loan title search did not.  Wouldn't that potentially be a nightmare?  YIKES!!

And btw, I never did phone Mr. Emmert.  I thought it best to leave that to the investigative reporting pro's like Mr. Schrag.  :-)

 
Allen Warren




________________________________
From: Jeff Cooper <jbcoops at yahoo.com>
To: Forest Grove local interests list <grovenet at rdrop.com>
Sent: Friday, March 6, 2009 5:34:14 PM
Subject: Re: [Grovenet] question

It seems likely this is going to end up in the courts.

If he *did* a title search and *was* informed of the lien then he has no one to blame but himself and obviously should be on the hook for the entire bill since he's been ducking payment.

If he *did* a title search and *wasn't* informed of the lien then the title company will be on the hook for the payment.  Whether or not they'd be liable for the interest is of course debatable.  It seems that the City of Cornelius will have to prove when notice was first sent, and what subsequent notices were sent.

If he *didn't* do a title search then my guess is it will still end up in the courts and Cornelius will still have to give proof of notice, especially in regards to the $200+K of interest payments. 

One thing I'd like to add to this story is it seems strange to me that landowners are on the hook for sewer improvements near their properties in Cornelius.  I'm glad that here in Forest Grove we're not charged above and beyond our monthly bill for sewer (uh... or *are* we!?).

Again, the only follow-up I'm likely to do is right here!  

Regards,

Jeff



      
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