title insurance claim

[lakeshorelarry]

When I applied for a refinance on my mortgage, I told the loan officer there might be a lien on my property from a past problem which would prevent me from getting enough money out for the refinance to make sense. He said he'd have a title search done. He called me with the good news that they found no lien (other then the ones I knew about) and they closed the loan. I live in Wisconsin and obtained only a lenders policy. I now wish to sell my house and another title company found the lien. The amount of the lien would result in the mortgage holder not receiving enough to payoff the loan, so I assume they will file a claim with the Title Ins. Comp. Can the Title Ins. Comp. come after me for the amount of the claim? If so, are they allowed to charge interest? Are payment arragements mutually agreed upon?

 

[HomeGuru]

Contact your title policy insurer to see if you have coverage.
I am unsure of exactly what your title policy covers thus I am unable to advise you further.

 

[dezul]

Wow,

I would definately spend the chash for a lawyer. He might be able to make things work for you. And she prolly wont cost as much as you'll loose if things get worse.

~R

 

[chinwa]

I have a similar problem......

WA State

I have a similar problem - Just refinanced a year ago with no leins on property. Now, there is a company stating that they can foreclose (not the first mortgage company). I have sent them a certified letter requesting proof of their claim, of which I have yet to receive.

I would like to file a claim with the title company, who did not find this lein. How do I proceed with this?

 

[HomeGuru]

WA State

I have a similar problem - Just refinanced a year ago with no leins on property. Now, there is a company stating that they can foreclose (not the first mortgage company). I have sent them a certified letter requesting proof of their claim, of which I have yet to receive.

I would like to file a claim with the title company, who did not find this lein. How do I proceed with this?

**A: please start your own thread and post the details.