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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Does Title Insurance help when purchasing a Deed of T that is Jr? Posted by Mark H. on May 10, 2010 at 10:57 AM We have this situation: In 2001 the homeowner took out a "first" for 160K and a second (down paymet) for 40K. Only the "first" has a reconveyance on record. In 2004 the homeowner refi'd with another bank, for 250K. It was described (in the Deed of Trust) as a "first". It was reconvyed. In 2006 the homeowner refi'd again, with another bank for 360K. It is also described as a "first" in the Deed of Trust. It was foreclosed on. Suppose that the old "second" in 2001 (the downpayment) was actually not paid off. Can the last mortage in 2006 (which was bought at auction), if it was insured, provide any protection to the new owner of the mortage. If the trustee insured the title as a first, I would assume they are liable. Follow Ups: Does Title Insurance help? Rick Harmon 3:55 PM, 05/10/10 (6) Re: Does Title Insurance help? Mark H. 4:45 PM, 05/10/10 (5) What will help you... Rick Harmon 3:02 PM, 05/11/10 (2) Re: What will help you... Mark H. 6:51 PM, 05/11/10 (1) Re: What will help you... IE Brian 10:28 AM, 05/12/10 (0) Re: Does Title Insurance help? LA in LA 0:41 AM, 05/11/10 (1) Re: Does Title Insurance help? IE Brian 10:44 AM, 05/11/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : We have this situation: : In 2001 the homeowner took out a "first" for 160K and a second (down paymet) for 40K. Only the "first" has a reconveyance on record. : In 2004 the homeowner refi'd with another bank, for 250K. It was described (in the Deed of Trust) as a "first". It was reconvyed. : In 2006 the homeowner refi'd again, with another bank for 360K. It is also described as a "first" in the Deed of Trust. It was foreclosed on. : Suppose that the old "second" in 2001 (the downpayment) was actually not paid off. Can the last mortage in 2006 (which was bought at auction), if it was insured, provide any protection to the new owner of the mortage. : If the trustee insured the title as a first, I would assume they are liable. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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