Hi everyone i think you have a great board here. I have a question that is very important and would like some opinions on when you purchase title insurance upon the refinance of a home and are not given a clean title,what is my recourse and what amount can I expect to collect from the title company or in my case companies to which I've paid title fees?
Did you get an actual title policy? If the title wasn't clean to start, you might have only gotten a committment with things that need to be done to get the actual title policy. Secondly, when did the title become clouded? Before your original purchase? Then the original policy should be responsible for clearing it. If you have the policy, and the title is clouded, the insurance should cover whatever it takes to clear the title. More details?
The company doing the refi won't do the loan if there is a cloud on the title. If the title compnay says it's clear and it's not then you have to file a claim against them.
