Thursday, June 16, 2011

Here's a fraud case to watch.

A family is being told the house they thought they bought in Murrieta actually belongs to someone else. The family says they can't stop making their mortgage payments. 

"Even though you've made your payments in full every month, you could get a knock at the door saying get out," said would-be homeowner Charlie Zahari. "If you look at it, we're renters in a house we can't move out of."
That was hardly the feeling last summer where there was all the euphoria of buying their first home.

Read more on ABC.

Fraud is a primary reason to buy title insurance.  This case clearly demonstrates the risk.  Now, it will be interesting to see how the title insurance underwriter defends the title or covers damages for the lender and owner.   dc

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