tag:blogger.com,1999:blog-36096789.post7016787599046380890..comments2023-04-11T01:02:46.639-04:00Comments on Title Insurance Talk bsherry@tcsclosing.com: query by e-mail: title company stole the money and my debts aren't paid!Becky Sherryhttp://www.blogger.com/profile/06708452533161661554noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-36096789.post-17265779149250745062008-02-21T08:42:00.000-05:002008-02-21T08:42:00.000-05:00I’ll preface my comments by saying that they are b...I’ll preface my comments by saying that they are based only on the available information that makes it appear that this person waited in the neighborhood of two years before pursuing this problem. <BR/><BR/>While I feel for this person's situation I can't help and think that there was a lack of personal responsibility here as well as a complete failure by the title agency/company. A title agency or company acting as the settlement agent is responsible for disbursing/distributing funds from a loan in exact accordance with the instructions from the lender. They also have a responsibility to properly maintain their escrow accounts and follow-up on outstanding checks to ensure they clear in a timely manner. That said though, with these debts being so important to the borrower why didn't he or she check in the weeks following the closing to ensure these debts were paid; had the payment of these debts been followed up on immediately he/she would have known within weeks that these debts had not been paid. Doing some follow-up seems to have been especially critically since the payoff amount of at least one of the debts was a negotiated amount that I’m sure had an expiration date. Another option could have been to insist that the creditor checks not relate to title (i.e. have no bearing on the title policy issued) be forwarded to him or her so they could personally send them to the creditors. Unfortunately in today's world no assumptions can be made and we must take responsibility to ensure tasks have been completed to our satisfaction. <BR/><BR/>All of that said, I agree with Ms. Cipa that this person should contact their state's Attorney General office and would add that it may also be worth while the contact their state's Department of Insurance who likely will also have a consumer complaint division. Good luck in getting your problem resolved.Anonymousnoreply@blogger.com