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TITLE TECHNICALITIES
There are many problems that a title underwriter may
come across that can either delay the closing of the
loan or disqualify it altogether. Our staff is trained
in the special types of issues that can arise in connection
with Reverse Mortgages, and are able to anticipate the
level of difficulty to allow for a smoother transaction.
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The older customers may have done some estate planning
and as a result we often see properties that have been
placed in a “Living Trust”; situations where
the owners have actually transferred their property
to children and have retained a Life Estate”;
and circumstances where the owners have executed Durable
Powers of Attorney”. Each of these title issues
has its own unique problems, which require experienced
title people, and in some cases a considerable amount
of thinking outside the box”. We pride ourselves
on both. Our staff can forewarn you of issues that may
not be apparent on their face, and will work with you
and your customer to clear the issues so that the loan
can close in a timely manner. Because some of these
borrowers have retained legal counsel to assist them
with their estate planning”, it may be necessary
for their attorney to be involved in resolving certain
issues. We will advise you when this is necessary early
in the process so as to avoid any unnecessary delays.
Any time there are title issues that you don't understand you can feel confident in discussing those issues with your assigned team, or our staff of underwriting attorneys. | |
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In addition to normal insurance coverage requirements, we also carry a
FIDELITY BOND
No warranty or guaranty is made by CLS for the accuracy or reliability of the information provided within this web site or any sites to which it links. The information contained herein is not and should not be construed as legal advice, and CLS assumes no liability for any reliance on the information contained herein. Only an attorney licensed to practice in the appropriate jurisdiction can provide legal advice.
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