We fix issues with the title about 25% of the time. The most common title issues are un-released mortgages, possible liens because the borrower has a common name, and mistakes in the legal description. All of these can be corrected.
The un-released mortgage is often a home equity line of credit with a zero balance. Homeowners pay it in full and think that because it is paid, it is closed. Even when a line of credit is paid in full, it remains open until the borrower sends written instructions to close the line of credit. Many people forget to do this. This is not a difficult problem to fix if you have time to find the loan account number and contact the lender.
Origin Title starts the title search as soon as we receive the title order and sales contract. We know there might be issues, and we can usually fix them without impacting the closing date, if we start right away.
Time is of the essence in real estate. We move quickly but with care to make sure title issues are corrected.
John C. Bennett is a real estate closing attorney and owner of Origin Title and Escrow, Inc.. Since 2003, Origin Title has handled real estate transactions – purchases, refinances, reverse mortgages – quickly and professionally. There will be no surprises, nothing misunderstood. Title searches are thorough and well-reasoned, to avoid unpleasant surprises later down the road. Calculate your closing costs in Georgia or Florida using our calculator or contact Origin Title using this form.