Does propane reimbursement count in the minimum investment seller assist calculations?

Diane,

We closed on our property December 23.  The agreed upon contract was $325,000 and seller concessions of $5,000.  At the closing table, we found out that due to the terms of our loan, we had to have 5% down into the purchase price which would decrease the seller concessions to approximately $2700. We were contacted by the seller's agent yesterday b/c she forgot to have the propane in

Is flood zone determination covered by title insurance?

query via email:

Hi, Diane.I just bumped into your blog on http://titleinsurancetalk.blogspot.com/2007/10/query-how-to-file-claim.htmland would like to ask your opinion on a title insurance problem we are having. We have a situation with our property which bought 2 years ago. We are doing the backyard drainage landscape project this year. During the process of applying for permit with our town,

on Southern Title

Southern Title voluntarily suspended the issuance of new title policies on Sept. 15. The SCC issued an order of suspension Sept. 19.

An impairment order was issued by the SCC on Nov. 4 because the company no longer met minimum capital and reserve requirements.

Virginia Commissioner of Insurance Jacqueline K. Cunningham has been appointed deputy receiver in an effort to rehabilitate the

states file amicus brief on RESPA...GOOD!!!!

The attorneys general also argued that it would be senseless to assume Congress carved out an exception that would allow brokers and lenders to charge unearned fees as long as they did not share them with another party.



“[T]he harm to the consumer — and the abusiveness of the broker or lender’s practice — is the same regardless of whether an unearned fee is divided,” the attorneys general

query: can you pay a title for title insurance and they don't provide one

Hmmmm...popular subject this weekend.  Yes, it is possible to pay a title insurance company for title insurance and then they fail to provide a policy.  It shouldn't happen but it does.

I received another query via email this weekend from a real estate agent representing a seller with a PA inheritance tax matter and a refusal from their title insurance company to deal with the matter.  Why?  

query: when does a "repair credit" not go on the hud

If there is a repair credit from seller to buyer and there is a mortgage lender involved in the transaction the credit goes on the HUD-1, period, end of story.  Any other suggestion, even if it comes from a representative of the lender is collusion to defraud the lender.  What?  How could a lender representative collude to defraud itself?  Well, just test the representative.  Ask for written

query via email concerning a pending tax sale and a title insurance claim

Hello Diane,
My name is Gerald and I noticed your Blog re: Title Ins. said to email you with questions and  . . . .  ok here goes - 
100% DISABLED Person living on fixed - (lower income) 

1) My First time for a Title insurance claim - I have NO IDEA what to expect or ask for - ? My home is paid for but am facing Tax default / Tax Sale March 20, 2012. I paid 85,000 in 2005 for a cabin on one

legislation moving on home warranties

H.R. 2446, RESPA Home Warranty Clarification Act of 2011, sponsored by Rep. Judy Biggert H.R. 2446 provides clarity to existing law that home warranties are not subject to the Real Estate Settlement Procedures Act (RESPA). The bill also requires that homeowners receive a specific written notice about the payment arrangement for any individual selling, advertising or performing a homeowner

query: what happens when the warranty forgotten on hud 1 statement

I'm guessing this is a home warranty, the type that real estate agents sell.  Though the home warranty benefits the buyer, it's the seller who usually pays for it as an inducement to help move the property.  The real estate agent may also receive a commission for selling the home warranty.

If the title/settlement company failed to put the invoice for the home warranty on the HUD-1 Settlement

query: what happens when I get to settlement and the title company have wrong figures

I call this a STOP DROP and ROLL moment.  What better reason to make sure you get the HUD-1 to review prior to closing, eh?

Well, in all fairness, perhaps there was a change after the pre-closing review.  Unless you intend to live with the error, use your leverage by not closing until the figures are corrected.  Trust me.  After you close, your file will go on the back burner.  While you are

query: where the hell is my hud statement

Many search engine queries that arrive here on Title Insurance Talk are folks looking for their HUD-1 statements.  This one gave me a few chuckles.  Thanks. ;)