Posted by JPS_CA on 7/21/05 1:50pm
Msg #53635
Title Insurers to pay fines;LandAmerica,First American and..
Fidelity National Financial INc.
"82000 californians have been ripoped off by the title insurance industry.
Lenders require title insurance when financing a home loan to guarantee that the property is free of other ownership claims and liens. The average title policy in California costs about 1400.00
The three title co. would charge homeowners buying title insurance additional reinsurance fee of hundreds of dollars each. The title insurances in turn, would send the additional fees to the reinsurance companies owned by the builders, lenders and real estate agents"
I read this in the Press Enterprise of Riverside CA
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