Old Republic Will No Longer Insure JPMorgan and GMAC REOs

Because the banks may not have not crossed all their “t”s and dotted all their ‘I’s in doing some foreclosures, lawyers are finding a way to extend the period of time an owner can stay or their property. The owners will still be eventually foreclosed upon, and this action will only result in lining the pockets of some lawyers and raising the transaction cost for future home buyers.

Old Republic Will No Longer Insure JPMorgan and GMAC REOs

Even more questions about the legality of foreclosure proceedings have prompted Old Republic National Title Insurance to decide it will no longer insure titles to homes foreclosed by JPMorgan Chase and GMAC Mortgage. Chase and GMAC both halted foreclosure sales in 23 states and are reviewing legal filings that they say may have been signed without a notary's presence or without verifying the supporting documents.

SUNIL SETHI REAL ESTATE

Sunil Sethi / Broker, President, REALTOR, MBA / SUNIL SETHI REAL ESTATE
38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536

www.sunilsethi.com

CA DRE#: 01173766