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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Does Title Insurance help? Posted by Rick Harmon on May 10, 2010 at 3:55 PM In Reply to: 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 Here's the deal: If you were going to buy an existing note from it's current bene by way of assignment, they should have a policy along with the nesseary endorsement as an assignee, if applicable. If the subsequent bene(s) had lender's policies insuring THEIR respective loans, insurance would be the industry norm. Understand that their policy(ies) would work off prior policy 'starters' which is industry term for a courtesy indemnification by prior title insurors that subsequent companies use as a starting point, and use the newer policies to insure forward and up to the time of the policy being purchased. But I'm not sure that you're even talking about buying a loan from a lender However, if you're talking about bidding the property at the t-sale, you won't be getting any benefit of the foreclosing lender's insurance, let alone any reference or assurance of the lien position that you're buying. You're a professional and are expected to do your own research and due diligence regarding title, lien position, collateral value, etc. That's why all the disclaimer language on the Notice of Sale. Follow Ups: 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: : Here's the deal: If you were going to buy an existing note from it's current bene by way of assignment, they should have a policy along with the nesseary endorsement as an assignee, if applicable. : If the subsequent bene(s) had lender's policies insuring THEIR respective loans, insurance would be the industry norm. : Understand that their policy(ies) would work off prior policy 'starters' which is industry term for a courtesy indemnification by prior title insurors that subsequent companies use as a starting point, and use the newer policies to insure forward and up to the time of the policy being purchased. But I'm not sure that you're even talking about buying a loan from a lender : However, if you're talking about bidding the property at the t-sale, you won't be getting any benefit of the foreclosing lender's insurance, let alone any reference or assurance of the lien position that you're buying. You're a professional and are expected to do your own research and due diligence regarding title, lien position, collateral value, etc. That's why all the disclaimer language on the Notice of Sale. : [ 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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