1 CHANGE YOUR MARITAL STATUS:
How you hold title is affected by your marital status. Be sure to make both your lender and the title
company aware of any changes in your marital status so that documents can be prepared correctly.

2 CHANGE JOBS:
A job change may result in your loan being denied, particularly if you are taking a lower-paying position or moving into a different fi eld. Don’t think you’re safe because you’ve received approval earlier in the process, as the lender may call your employer to re-verify your employment just prior to funding the loan.

3 SWITCH BANKS OR MOVE YOUR MONEY TO ANOTHER INSTITUTION:
After the lender has verifi ed your funds at one or more institutions, the money should remain there until needed for the purchase.

4 PAYING OFF EXISTING ACCOUNTS UNLESS YOUR LENDER REQUESTS IT:
If your Loan Officer advises you to pay off certain bills in order to qualify for the loan, follow that advice. Otherwise, leave your accounts as they are until your escrow closes.

5 MAKE ANY LARGE PURCHASES:
A major purchase that requires a withdrawal from your verifi ed funds or increases your debt can result in your not qualifying for the loan. A lender may check your credit or re-verify funds at the last minute, so avoid purchases that could impact your loan approval.

RSVP:ldesena@statitle.com

Join us tomorrow at FAAR 9:30am

What does title insurance protect you from? A lot.

 

There are few things in life more important than protecting your home. The following matters are examples of why you need title insurance. Remember that the best title examination or search cannot protect your equity and home from matters not appearing in the public records. However, title insurance* can protect you from:

 

Call us for more information.

 

·         Documents executed under false, revoked or expired powers of attorney

·         False impersonation of the true land owner

·         Undisclosed heirs

·         Improperly recorded legal documents

·         Prescriptive rights in another not appearing of record and not disclosed by survey

·         Failure to include necessary parties to certain judicial proceedings

·         Defective acknowledgements due to improper

·         or expired notarization

·         Corporate franchise taxes as liens on corporate real estate assets

·         Gaps in the chain of title

·         Mistakes and omissions resulting in

·         improper abstracting

·         Improper modification of documents

·         Rights of divorced parties

·         Conveyances in violation of public policy

·         Misinterpretation of wills and ancillary instruments

·         Deeds by persons falsely representing their

·         marital status

·         Claims by creditors of decedent against property improperly conveyed by heirs and devisees

·         Issues concerning unlawful takings by

·         eminent domain or condemnation

·         Special tax assessments

·         Real estate homestead exceptions

·         Forfeitures of real property due to criminal acts

·         Forged deeds, mortgages, wills, releases of mortgages and other instruments

·         Deeds by minors

·         Deeds which appear absolute, but which are

·         held to be equitable mortgages

·         Conveyances by an heir, devisee or survivor of

·         a joint estate who attempts to attain title by

·         ill-gotten means Inadequate legal descriptions

·         Conveyances by undisclosed divorced spouses

·         Duress in execution of wills, deeds and instruments conveying or establishing title

·         Issues involving delivery of

·         conveyancing instruments

·         Deeds and wills by persons lacking legal capacity

·         State inheritance and gift tax liens

·         Errors in tax records

·         Demolition and substandard building liens

·         Administration of estates and probate of wills of missing persons who are presumed deceased

·         Issues of rightful possession of the land

·         Issues concerning the rightful conveyances by corporate entities

·         Deeds and mortgages by foreigners who may

·         lack legal capacity to hold title

·         Legal capacity of foreign personal representatives and trustees

·         Issues involving improper marital status

·         Issues concerning adoption of children

·         Conveyances and proceedings affecting rights of military personnel protected by the Soldiers’ and Sailors’ Civil Relief Act

·         Issues concerning interests noted in financial statements filed under Uniform Commercial Code

·         Interests arising by deeds of fictitious parties

·         Adverse possession

·         Lack of jurisdiction or competency of persons in judicial proceedings

·         Community property issues

·         Utility easements

·         False affidavits of death or heirship

·         Intestate estates

·         Probate matters

·         Federal estate and gift tax liens

STA Title Home Buyers Settlement Guide

CFPB Seeks Input on Possible Fixes to Controversial TRID

The Washington Post | May 10, 2016
A recent effort by the federal government to make the home closing process smoother and more transparent for buyers has instead turned into a quagmire of inconsistency and confusion, according to title companies and real estate agents. ALTA is committed to working with the CFPB to correct the inaccurate calculation of title insurance premiums on the mortgage disclosures when policies are issued simultaneously. Under the current rule, the calculation is inconsistent with the Bureau's mission to inform consumers about the true costs of their real estate transaction. During ALTA's Lobby Day on May 18, the title industry will encourage members of Congress to tell the CFPB to provide consumers with accurate information about title insurance costs. Help ALTA in this effort to correct the inaccurate disclosure of title fees under TRID. Become a member of the Title Action Network. It’s free and easy to join.