by Guest » Wed Feb 13, 2008 07:29 pm
Title Insurance fraud is a real problem and under investigation in several state, including New York, California, Florida And Colorado. Anyone who buys a home or refinances has to buy title insurance, but unfortunately, most consumers know very little about the product. Many people have been over charged by hundreds of dollars for title insurance without ever realizing it. The four companies that control the title insurance market in the US have been accused of price fixing and paying kickbacks to real estate agents, brokers and others who recommend title insurance companies to consumers. You can find more information on title insurance fraud, how it affects the average consumer, and ways to recoup overcharges at this yourlawyer.com under "Other Topics" and "Title Insurance Price Fixing".
Posted: Thu Feb 14, 2008 06:50 am Post Subject:
Thanks steelermom1 for the informative article. We all at some point or the other, may need the title insurance to ensure a smooth property dealing. And title insurances, IMO, are grossly overpriced already and frauds will add an extra burden on the consumers' budget. Frauds at any form affect both the economy and the society, and awareness is the only key to combat this menace.
Posted: Thu Feb 14, 2008 07:01 am Post Subject:
Hey steelermom1, welcome to ampminsure. I highly appreciate your initiative to bring this useful article to our attention. I agree with the statement made in the article that we often rely on our banks and brokers to find out the title insurance for us. That may be so because shopping around may, at times, be a cumbersome and time consuming process.
Meanwhile, have you considered becoming a member of ampminsure? Its absolutely free. :)
Posted: Thu Feb 14, 2008 08:57 am Post Subject:
Howzaat? I never knew that you can actually shop around for the title insurance. I thought that you are required to accept the proposal offered by your banker. Kickbacks are really a major problem in the insurance industry. Now I feel that my broker may not even disclose all the facts that I may need to know before purchasing the title insurance policy.
Posted: Thu Feb 14, 2008 11:20 pm Post Subject:
Welcome Steelermom. Love those Steelers. Big Ben and I are both Miamians! Tough luck this year vs. Jacksonville but next year will be an 11-5 year and a few playoff wins.
In-Laws live in North hills and other relatives are in Plum Township, Mt. Lebanon and Sweickly (sp?).
Hate that Incline though. I'm sure not too many people know about it on this Forum.
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