tag:blogger.com,1999:blog-80301536501166646512024-02-07T05:43:08.563-05:00Maryland Title Insurance A Maryland Blog For Title Insurance, Settlement Company News And Information. A place For Consumers, Lenders, Real Estate Professionals And Others To Find, Share Or Read About News And Topics Related To The Title Insurance And Property Settlement Industry. Understanding Quotes, Coverage, Closings, Recording, Property Tax, Discounts, Third Party Fees, Services, Transfers, Risks, Policies, TRID, Closing Disclosure, Loan Estimates And More.Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.comBlogger51125tag:blogger.com,1999:blog-8030153650116664651.post-65847150512567747282017-03-01T17:17:00.000-05:002017-03-01T17:17:52.903-05:00Looking for Home Buyer Programs in Frederick, MD and other parts of the State?<div class="MsoNormal">
<b><u><span style="font-size: 12.0pt;">Homebuyer Programs in
the Frederick Area and Beyond<o:p></o:p></span></u></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwya_ZItsUKfyBjn2s9wJW3AhzbubSQMS2TPnjSD84AMP0bhKvksPh3py9TkvINB70ewFZ2dKpQp-uhkuoAq6EfB_9B2vNE72czg9zd501VHb0vrmXErK59eB8rZEXg10yRTHVL_h5txI/s1600/Home+Buyer+Programs+in+Frederick+Maryland.jpeg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="239" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwya_ZItsUKfyBjn2s9wJW3AhzbubSQMS2TPnjSD84AMP0bhKvksPh3py9TkvINB70ewFZ2dKpQp-uhkuoAq6EfB_9B2vNE72czg9zd501VHb0vrmXErK59eB8rZEXg10yRTHVL_h5txI/s320/Home+Buyer+Programs+in+Frederick+Maryland.jpeg" width="320" /></a></div>
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Looking to buy a home in the Frederick, Maryland area? There
are a number of programs available to prospective buyers to help with various
aspects of home ownership. Below is a brief description of each and the link to
each website.<o:p></o:p></div>
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<b>Frederick Community Action Agency (FCAA)<o:p></o:p></b></div>
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The Frederick Community Action Agency provides multiple
programs to owners and buyers. These include the HUD-Approved Housing Counseling
Agency, Homebuyer Education classes, Weatherization Assistance Program, and the
Housing Rehabilitation Program. The two programs require applications in order
to obtain funds or small grants from each program, and are based on income
eligibility. Homebuyer Education classes are open to any interested first-time
homebuyers. The Counseling Agency provides information and assistance in
understanding the buying process as well as housing counseling for renters,
owners, and buyers on a number of subjects.<o:p></o:p></div>
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<a href="http://www.cityoffrederick.com/fcaa">www.cityoffrederick.com/fcaa</a>
<o:p></o:p></div>
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<b>Moderately Priced Dwelling Unit Program<o:p></o:p></b></div>
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Currently, there are no new moderately-priced dwelling units
being developed in Frederick. However, if you are interested in finding out
more about the program or would like to discuss options, the Frederick
Community Action Agency is taking consumer questions and concerns. <o:p></o:p></div>
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<a href="http://www.cityoffrederick.com/fcaa">www.cityoffrederick.com/fcaa</a>
<o:p></o:p></div>
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<b>Community Partners Incentive Program (CPIP)<o:p></o:p></b></div>
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The Community Partners Incentive Program gives
income-eligible first-time home buyers up to $5,000 toward the purchase of a
home in the city of Frederick. The maximum loan is broken down to equal a max
of $2,500 from the City of Frederick and a max of $2,500 from the Maryland
DHCD. The CPIP is part of the Maryland Department of Housing and Community
Development (DHCD) and is administered by the Frederick Community Action
Agency.<o:p></o:p></div>
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<a href="http://www.cityoffrederick.com/189/Community-Partners-Incentive-Program">http://www.cityoffrederick.com/189/Community-Partners-Incentive-Program</a>
<o:p></o:p></div>
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<b>House Keys for Employees Program (HK4E)<o:p></o:p></b></div>
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As part of the Maryland House Keys for Employees program,
the City of Frederick offers eligible full-time and part-time employees of the
City up to $8,500 to buy a home within city limits. The program is administered
through the Maryland Department of Housing and Community Development, and the
Frederick program is administered by the Frederick Community Action Agency in
conjunction with the City Department of Human Resources. Interested employees
should contact the FCAA or the human resources department for more information.<o:p></o:p></div>
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<a href="http://www.cityoffrederick.com/190/House-Keys-for-Employees-Program">http://www.cityoffrederick.com/190/House-Keys-for-Employees-Program</a>
<o:p></o:p></div>
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<b>The US Department of Agriculture Rural Development<o:p></o:p></b></div>
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If you live on a farm or a rural area, you may be eligible
for loans or grants from the Department of Agriculture Rural Development. Some
of their programs include the Single-Family Housing Guaranteed Loan Program,
the Single Family Housing Direct Home Loan program, the Single Family Housing
Repair Loan/Grant program, and the Multi-Family Housing Loan program. Many of
their program include income eligibility restrictions, so be sure to read their
website and program requirements thoroughly.<o:p></o:p></div>
<br />
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<a href="https://www.rd.usda.gov/md">https://www.rd.usda.gov/md</a>
<o:p></o:p></div>
<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0Frederick, MD, USA39.414268799999988 -77.410540939.316165799999986 -77.5719024 39.51237179999999 -77.2491794tag:blogger.com,1999:blog-8030153650116664651.post-37048749756255424332017-03-01T16:59:00.001-05:002017-03-01T16:59:34.592-05:00Keep Your Identity Safe in a Real Estate Transaction<div class="MsoNormal">
<b><u><span style="font-size: 12.0pt;">Keep Your Identity Safe
in a Real Estate Transaction<o:p></o:p></span></u></b></div>
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; margin-left: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEbUnaFb3YDedE6rpfvUwqHMtIuPsw592DfPTq7cXBbUgiA1BYPvP2G7kTAmUrYgkOAHDSg-Y2vC8sOQKPYNe5g8f4Pqmj1RDYwomyyg5IzT79rND8ByUPkFexyL0568KCh-Cvg04oaa4/s1600/Identity+Thief+in+Maryland.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEbUnaFb3YDedE6rpfvUwqHMtIuPsw592DfPTq7cXBbUgiA1BYPvP2G7kTAmUrYgkOAHDSg-Y2vC8sOQKPYNe5g8f4Pqmj1RDYwomyyg5IzT79rND8ByUPkFexyL0568KCh-Cvg04oaa4/s320/Identity+Thief+in+Maryland.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Don't Let This Person Find Your Private Information</td></tr>
</tbody></table>
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Identity theft is one of the most prevalent crimes in the
United States today, with 17.6 million victims in 2014 alone<sup>1</sup>. The
vast majority of the identity incidents reported have been credit card fraud or
theft, with the perpetrators attempting to use existing credit or debit
accounts. Real estate transactions are especially attractive to thieves because
of the nature of the transactions; real estate documents typically involve
transmission of personal data, such as a Social Security number, as well as
large sums of money.<o:p></o:p></div>
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The majority of real estate agents, brokers, and title
insurance agencies are extremely aware of sensitive data passing through their hands
and are vigilant in taking measures to ensure the safety of their data.
However, hackers and scams are becoming more sophisticated, and there may be
holes in data security systems that consumers and agents aren’t even aware of
yet. So what steps are available to you to stay safe when buying or selling
property in Maryland or anywhere else for that matter?<o:p></o:p></div>
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<br /></div>
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<b>Secure Online Transfers<o:p></o:p></b></div>
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Does your agent or your broker use secure file transfer
processes? When they are sending documents which may contain your information,
are they using a secure system to encrypt data sent over the Internet? <o:p></o:p></div>
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If you don’t know the answers to those questions, it would
be a good idea to ask your agent or your broker. As email hacking and phishing
becomes more sophisticated, brokers and companies not using secure methods to
send and receive sensitive documents could be leaving themselves and their
clients at risk to being hacked or having their identity stolen. <o:p></o:p></div>
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<b>Secured Internet Access<o:p></o:p></b></div>
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Personal information should never be accessed or sent over a
public wireless network<sup>2</sup>. Such networks have been proven to be
insecure and place consumers at risk of hacking and even identity theft.
Agents, lenders, and brokers should all have passwords placed on their internet
networks to maintain security of their network, and the passwords should be
changed periodically. Maintaining a secure Internet system that is not open to
the public and has at least moderate security is crucial to keeping online
transfers secure. It may not matter if a secure file transfer system is used if
the Internet network is open to all and vulnerable to being hacked.<o:p></o:p></div>
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<b>Wire Transfer Scams<o:p></o:p></b></div>
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A very common scam in the last few years has been wire
scams. These typically work by thieves successfully hacking a real estate agent
or lender’s email account. Then they send wire transfer information for the
down payment as if they were the lender/agent/broker. The customer, believing
the information to be correct, send the money as instructed. But the transfer
instructions were fraudulent and did not go to the lender; instead the money
went to the scammers, who get away with the fraud and the money. <o:p></o:p></div>
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There are multiple ways in which to be vigilant against this
scam. Lenders, brokers, and agents typically call the other party to confirm
the instructions right before any money is sent. This ensures that the money is
going to the correct place and is not going to the wrong account. If a customer
is the target and receives an email requesting money be wired to a specific
place, the best course of action is to call the agent or broker before sending
anything. It is better to be vigilant and confirm information than to lose
thousands of dollars by sending money to the wrong person. <o:p></o:p></div>
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<br /></div>
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<b>Shred or Securely File Physical Copies<o:p></o:p></b></div>
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After the transaction is completed and your property is
bought or sold, what becomes of the physical copies? Certainly you have a set
of paperwork for yourself, but what happens with the documents kept by your
agent or lender? <o:p></o:p></div>
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<br /></div>
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A common practice is for agents, brokers, and lenders to
keep any physical paperwork in a secure storage area. Some offices have gone
entirely paperless or nearly paperless, but many others still utilize print
copies. Documents that are no longer needed should be shredded using a
cross-cut shredder and not left lying around an office or kept in insecure
storage areas. <o:p></o:p></div>
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As the consumer, you have the right to inquire how your
information is being handled and to ask for an explanation of the process
regarding online and physical data security. <o:p></o:p></div>
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<sup><span style="font-size: 9.0pt;">1</span></sup><span style="font-size: 9.0pt;">Bureau of Justice Statistics. September 15, 2015. </span><a href="https://www.bjs.gov/content/pub/press/vit14pr.cfm"><span style="font-size: 9.0pt;">https://www.bjs.gov/content/pub/press/vit14pr.cfm</span></a><span style="font-size: 9.0pt;"><o:p></o:p></span></div>
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<sup><span style="font-size: 9.0pt;">2</span></sup><span style="font-size: 9.0pt;">Chodorov, Jill. “How to Protect Your Personal Data in a
Real Estate Transaction.” April 1, 2014. <i>Washington Post</i>. </span><a href="https://www.washingtonpost.com/news/where-we-live/wp/2014/04/01/how-to-protect-your-personal-data-in-a-real-estate-transaction/?utm_term=.cbcca3e893e7"><span style="font-size: 9.0pt;">https://www.washingtonpost.com/news/where-we-live/wp/2014/04/01/how-to-protect-your-personal-data-in-a-real-estate-transaction/?utm_term=.cbcca3e893e7</span></a><span style="font-size: 9.0pt;"> <o:p></o:p></span></div>
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<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-1523865819668791562016-10-31T13:14:00.001-04:002019-01-31T12:33:31.340-05:00Maryland Title Insurance Company - A Consumer Information GuideMaryland buyers should shop and compare title insurance agencies.<br />
<br />
<span style="background-color: white;"><span style="color: #32363f; font-family: "open sans" , "helvetica neue" , "helvetica" , "arial";"><span style="font-size: 13px;">If you are buying real estate property in Maryland you can <b>potentially save big money</b> by shopping around for real estate settlement and title insurance related services. Fees for services may vary from provider to provider more significantly than many realize. Take the time to educate yourself on what a title agent/agency does, what your options are regarding insurance coverages, fees and other add on charges. <b> </b></span></span></span><br />
<span style="background-color: white;"><span style="color: #32363f; font-family: "open sans" , "helvetica neue" , "helvetica" , "arial";"><span style="font-size: 13px;"><b>Learn about your right to choose and compare title insurance and services costs.</b></span></span></span><br />
<br />
<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/6vtX8oBhgy8" width="480"></iframe><br />
<br />
<a href="https://excaliburtitle.com/" style="color: #32363f; font-family: "Open Sans", "Helvetica Neue", Helvetica, Arial; font-size: 13px;" target="_blank"><b>Excalibur</b></a><span style="color: #32363f; font-family: "open sans" , "helvetica neue" , "helvetica" , "arial";"><span style="font-size: 13px;"><b> is one agency in Maryland focused on providing services at lower cost to consumers</b>. There is no problem contacting an agency like Excalibur to obtain a free quote for title fees and insurance costs. There are many agencies offering affordable fees for real estate settlements in Maryland but likewise there are also some who are priced much higher for similar services including but not limited to these examples: title insurance, commitment, recording, title exam, closing, settlement, deeds and title search. Excalibur Title and Escrow provides residential and commercial services throughout the entire state of Maryland and will conduct mobile settlements at the convenient location of your choice. They have offices in Hagerstown, Frederick and Gaithersburg and are happy to audition for the opportunity to serve you by providing free written quotes and cost estimates. Please take the time to shop and compare. It's in your best interest to do some due diligence and not just follow blindly the advice of your lender, realtor or other industry professional. Some lenders and real estate professionals have affiliations or ownership interest in title companies so there may be a presumed conflict of interest. Ask your realtor or lender if they have any affiliation with the title agency they recommend you to use. We are advocating for consumer choice, selection and freedom. Take control of your next real estate settlement by selecting an experienced, affordable, professional title agency. </span></span><div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0Maryland, USA39.0457549 -76.641271235.8786414 -81.8048452 42.2128684 -71.477697200000009tag:blogger.com,1999:blog-8030153650116664651.post-13439092121487429142014-05-08T16:30:00.000-04:002019-01-31T12:32:34.802-05:00The Importance of Title Search for Your Real Estate Transaction<div align="center" class="MsoNormal" style="text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSHkML2pY2HV2I7dBva6Jc91nEiRuxptBCIp0gyEDFgRCDHhXzlbiXF8iljsUzbVfc1RziRySMZksPgcbX2lefgjtCdbML9VkSBiAV2BPkXoDh_jmJ_ZAA8pSNSRTLCRL4-nmOk6kElLk/s1600/Maryland+Title+Search+Abstract.png" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSHkML2pY2HV2I7dBva6Jc91nEiRuxptBCIp0gyEDFgRCDHhXzlbiXF8iljsUzbVfc1RziRySMZksPgcbX2lefgjtCdbML9VkSBiAV2BPkXoDh_jmJ_ZAA8pSNSRTLCRL4-nmOk6kElLk/s1600/Maryland+Title+Search+Abstract.png" /></a></div>
<h2>
<span style="color: blue;">What is a title search?</span></h2>
<br />
<h3>
<span style="color: blue;">How does it impact your transaction? </span></h3>
<div class="MsoNormal">
It is helpful to understand what a title search is and why you need it done. The information obtained can be accessed remotely in MD via <a href="http://mdlandrec.net/main/index.cfm">online
public records</a> and by physically going to the court house to
search the public record books. The
first and probably most important aspect of their search is to make sure that
there is no breaks in chain of title, in other words that the ownership has
been transferred correctly through the life of the property and no one else
could potential claim ownership in the property. Abstractors also look for any liens or encumbrances
that are on the property. </div>
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<br /></div>
<h4>
<span style="color: blue;">So how far
back does the search go? </span><span style="color: #0c343d;"> </span></h4>
<div class="MsoNormal">
For a purchase
it is customary for a 60 year search to be completed, as for a refinance
typically most title underwriters only require a one owner search, while some
companies will go for a two owner search to make reasonable efforts to determine the property is free and
clear of encumbrances to title for your protection and the protection of your lender.
Usually, at title search is done by an independent abstractor. The
abstractor’s job is to run a search on your property or the property that you
are looking to purchase. But what
exactly are they looking for and where? An
abstractor or searcher will access public record for the particular county that the property
is located. The abstractor creates the report for the title company
to complete a title exam. It is the
title company’s responsibility to clear any defects in the chain in title or to
clear any unreleased deeds of trusts among other things. The title exam for the title insurance company contains the
information or data that the title company uses to determine the insurable risk of
the title insurance policies for both the lender and the purchaser they intend to bind for coverage.</div>
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<o:p></o:p></div>
<h4>
<span style="color: blue;">The world is becoming more digital for real estate title search information gathering.</span></h4>
<div class="MsoNormal">
Access to the
information an abstractor will use for title search data is becoming more readily
available online. We expect and hope
soon there will not be a need to send people to the court house in person to review
any public records. The digital age is
making this task easier and easier every year for anyone to access public
records but the system is not perfect yet. So the importance of a complete title search is essential to providing the protection of the biggest investment that most people will ever
make in their life. Since most people do
not realize that prior owner judgments and liens can attach to the property
that you have just purchased. This is
brief description of what a title search is and why you need one to obtain a
title insurance binder and policy but it is not a complete explanation and
doesn’t cover every detail of the process.
If you have any questions consult a properly licensed title agent or
real estate attorney. In <a href="https://excaliburtitle.com/" target="_blank">Maryland Excalibur Title and Escrow</a> is
happy to answer your title search and abstract questions and looks forward to
it. </div>
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<o:p></o:p></div>
<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0Maryland, USA39.0457549 -76.641271235.878622899999996 -81.8048452 42.2128869 -71.477697200000009tag:blogger.com,1999:blog-8030153650116664651.post-64935282856681686222014-03-11T10:58:00.002-04:002019-01-31T12:35:03.276-05:00Common Real Estate Fraud Schemes Found In Maryland And Throughout The USA.<br />
<h2 style="margin-bottom: 0in;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHaKFHj9uuE3HlR91AW2nk-c95MuZ9WQnp_oHTMCLKwf9_USImqWprrfNolqmUrdPmA5hrqSzMpL8hbu67sIXqzCP2V8PvonDg2uVA-T4AazLx6ivt0b3CKR6mR2ldeU2DHoydESuLzZY/s1600/Real-Estate-Fraud-Jail-Protection-Scheme.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="305" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHaKFHj9uuE3HlR91AW2nk-c95MuZ9WQnp_oHTMCLKwf9_USImqWprrfNolqmUrdPmA5hrqSzMpL8hbu67sIXqzCP2V8PvonDg2uVA-T4AazLx6ivt0b3CKR6mR2ldeU2DHoydESuLzZY/s1600/Real-Estate-Fraud-Jail-Protection-Scheme.jpg" width="320" /></a></h2>
<h3>
Real
estate fraud and schemes for financial gain are found everywhere in
Maryland and the rest of the country for that matter.</h3>
Understanding
and educating ourselves is one of the best ways to avoid fraud or
identify it before falling victim to a scheme that could cost you
everything. There are many moving parts in our real estate
transactions and a large group of people and entities involved. The
fact we have so many moving parts and so many people involved create
opportunities for deception and fraudulent schemers. Appraisers,
Banks, Lenders, Loan Officers, Underwriters, Processors, Abstractors,
Surveyors, Inspectors, Auctioneers, Attorneys, <a href="https://excaliburtitle.com/" target="_blank">Title Agents</a>,
Insurance Agents, Buyers, Sellers, Builders, Developers, Contractors,
Brokers, Real Estate Agents, Investors and Court Recorders represent
many of the individuals who can play a role in real estate
transactions and processes. It is easy imagine with this many moving
parts and hands in the cookie jar, the opportunities for fraud exist
and occur. Let's all take some responsibility for education and
awareness as one of the best methods to avoiding fraud or damaging
schemes. Recognizing the danger signals and common ways these
fraudulent methods are played out will help you avoid and detect
fraud before it happens. There is no guarantee we can avoid every
possible situation but if we can learn together protect ourselves
from the common schemes we will all be better off.<br />
<br />
<h3 style="margin-bottom: 0in;">
Here
are some more common methods of real estate fraud in Maryland:</h3>
<br />
<h4 style="margin-bottom: 0in;">
<u>Escrow
Defalcation:</u> </h4>
<br />
<div style="margin-bottom: 0in;">
<span style="font-family: "arial" , sans-serif;">This is
a simple form of fraud in which the title insurance agent or the
attorney managing the escrow funds directs the money in escrow
elsewhere to his/her benefit and leaves town with the funds. This is
always a surprise to everyone involved yet it still happens in the
industry. Lender's send monies to the escrow agent, attorney or
title agency for settlement funding, payoffs and other purposes prior
to settlement. Once settlement occurs they assume the monies have
been moved to all the appropriate places when in fact a fraudulent
person simply directs what should have been delivered to one place to
another for their personal gain or benefit. The amount of monies
involved in real estate transactions make it easy for a fraudster to
obtain significant monies before being detected or found out. One
way to deter this difficult scheme is to make sure you are using a
title agency or settlement company that is conforming to industry
best practices by performing background checks on employees, is
bonded, holds a current license, has E&O insurance, daily
reconciliation and other best practices requirements to minimize the
chance of defalcation fraud. One of the best things the title
industry has going for it now is national best practice standards.
From a financial perspective without going into detail title agents
in Maryland who conform to best practices have more than one person
keeping track of and authorizing escrow money movement so while it's
not impossible is much harder for an individual to commit fraud and
go undetected for any long period of time. Nothing is perfect but
we are heading in the right direction. For this reason we recommend
you find a local title agent in Maryland and that you get some
references and do your due diligence before making a final decision
about who is handling your escrow monies for your next real estate
transaction in Maryland.</span></div>
<u></u><br />
<h4>
<u>Property
Flipping:</u></h4>
<span style="font-family: "arial" , sans-serif;">From a
fraud perspective “flipping” occurs when several people work
together to form a team of deception. Most commonly this involves a
buyer, closer, appraiser and possibly a potential secondary buyer.
At the heart of the scam is the inflation of property value to
obtain financing monies from a lender. The first stage is the buyer
takes out mortgage for the homes actual value or cost to acquire.
Then some fake or falsified improvements are supposedly done creating
the opportunity to demonstrate a new higher value on an appraisal.
The increase is justified by the improvements or additions to the
initial property. The problem is the improvements are not real and
the value is falsely represented on the appraisal. The bank gets an
application for a second mortgage or home equity loan for the
increase and with the false appraisal lends the money largely
unsecured. Subsequently the property is then sold quickly “hence
the word flipping” to a new buyer who may or may not be in on on
the scam. Then the fraudsters abscond with the money and the new
buyer often defaults on the loan. Lenders and Banks are the ones
bearing the majority of the losses in this situation.</span><br />
<br />
<h4 style="margin-bottom: 0in;">
<u>Aggressive
Selling:</u></h4>
<div style="margin-bottom: 0in;">
</div>
<div style="margin-bottom: 0in;">
<span style="font-family: "arial" , sans-serif;">Occurs
mainly when the elderly, mentally vulnerable and those financially at
risk of foreclosure are targeted by those criminals who intend to
manipulate them into signing paperwork and legal documents that are a
detriment to their best interests. </span>
</div>
<br />
<h4 style="margin-bottom: 0in;">
<u>Predatory
Lending:</u></h4>
<div style="margin-bottom: 0in;">
</div>
<div style="font-weight: normal; margin-bottom: 0in;">
<span style="font-family: "arial" , sans-serif;">Commonly
done door to door with a high pressure sales pitch offering a deal to
good to be true for a new loan. Bait like no money down and no
credit check are offered to lure the borrower to sign paperwork for a
new loan where interest rates and terms are not favorable or what the
borrower could have possibly qualified for by going through normal
underwriting for a loan. This method can also me initiated by phone
solicitation followed by and appointment with and aggressive sales
person.</span></div>
<br />
<h4 style="margin-bottom: 0in;">
<u>False
Foreclosure Rescue:</u></h4>
<div style="margin-bottom: 0in;">
<span style="font-family: "arial" , sans-serif;"></span></div>
<div style="margin-bottom: 0in;">
<span style="font-family: "arial" , sans-serif;">When
individuals are faced with foreclosure others may see them as
vulnerable and desperate. Scamming persons will use aggressive ads
and telemarketers to promise relief from debt and perhaps a reduction
or release from the entire burden. All of this in exchange for a
fee. The fee is collected and the fraudster leaves and doesn't
perform any of the promised services. Often the kind of information
a person needs when facing foreclosure is available on government
websites or working with an attorney specializing in this area of
legal practice.</span></div>
<br />
<h4 style="margin-bottom: 0in;">
<u>Equity
Fraud:</u></h4>
<div style="margin-bottom: 0in;">
</div>
<div style="font-weight: normal; margin-bottom: 0in;">
<span style="font-family: "arial" , sans-serif;">A
traditional form of fraud and theft where the personal private
information of the victim is obtained by the criminal. The
information is used to forge false loan applications and documents.
The forgery can continue to the deed for the purpose of steal the
equity in the property of the victim.</span></div>
<br />
<h3 style="margin-bottom: 0in;">
<span style="font-style: normal;"><span style="font-weight: normal;"><b><u>What
to do about it?</u></b></span></span></h3>
<br />
<div style="margin-bottom: 0in;">
<br />
<span style="color: black;"><span style="font-family: "times new roman";"><span style="font-size: medium;"><span style="font-style: normal;"><span style="font-weight: normal;">We
can all be on the lookout for the warning signs and be aware of the
common sense rule of “if it sounds to good to be true – it
probably is!”</span></span></span></span></span></div>
<br />
<div style="margin-bottom: 0in;">
<span style="color: black;"><span style="font-family: "times new roman";"><span style="font-size: medium;"><span style="font-style: normal;"><span style="font-weight: normal;">For
our friends and family members we can be aware of those who are
elderly, lack financial sophistication and keep and eye on them.
Communicate regularly and educate them on the warning signs.
Encourage open lines of communication before making any major
financial decisions. Don't trust the stranger day one. Help each
other by creating awareness and methods for simple due diligence
before entering into legal agreements or signing documents. Continue
to do business with your local trusted adviser who is well
established and recommended to you by your local Chamber of Commerce,
Bar Association etc. Look for experienced professionals recommended
by trade associations, industry peers and ask them for references you
know. <a href="https://excaliburtitle.com/" target="_blank"> Excalibur Title and Escrow, LLC is proud to be celebrating our10 year anniversary and to be able to provide you with information.</a>
We are happy to provide numerous references in the industry to
bankers, lenders, realtors and past customers whom we have done
business with for years should you need a title agency for your next
real estate settlement in Maryland. Ask the hard questions and
don't be afraid to get the information you need to make and informed
decision. We hope this post is helpful and please pass the word
along. </span></span></span></span></span>
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<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0Maryland, USA39.0457549 -76.641271239.0457549 -76.6412712 39.0457549 -76.6412712tag:blogger.com,1999:blog-8030153650116664651.post-87242419270460048402014-02-26T10:40:00.001-05:002019-01-31T12:35:53.932-05:00<br />
<h2 style="margin-bottom: 0in;">
Understanding The Importance of Tenancies When
Holding Title To Real Estate Property in Maryland:</h2>
<br />
<h3 style="margin-bottom: 0in;">
Tenancy is the relationship of
the owners of a property and how the ownership is divided. There are
5 ways to hold title each with its own benefits:</h3>
<div style="margin-bottom: 0in;">
</div>
<div style="margin-bottom: 0in;">
<b></b></div>
<b></b><br />
<div style="margin-bottom: 0in;">
<br />
<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; margin-left: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgdybK2qv7BOLuq9p8gZMiNthmUlMp6D6MRto0QYhVkm6GKb2U-XSZS8znZlGF3pJ9K9I_GTyeMfwLE5nShKbmDgsRcfcpw0OM9Jl_9wXi1tL8xazDhF-zceNBIol1I2zAfxXTqoMBTnGo/s1600/Property-Tenancy-Title-Joint-Common.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img alt="Tenancy-Title-Joint-Possession-Property-Time-Entireties-Survivorship-Common-Deed" border="0" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgdybK2qv7BOLuq9p8gZMiNthmUlMp6D6MRto0QYhVkm6GKb2U-XSZS8znZlGF3pJ9K9I_GTyeMfwLE5nShKbmDgsRcfcpw0OM9Jl_9wXi1tL8xazDhF-zceNBIol1I2zAfxXTqoMBTnGo/s1600/Property-Tenancy-Title-Joint-Common.jpg" title="Types Tenancy Holding Title To Property" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Tenancy Agreement</td></tr>
</tbody></table>
</div>
<b>
</b>
<div style="margin-bottom: 0in;">
<b></b></div>
<br />
<ol>
<li><h4 style="margin-bottom: 0in;">
“Sole Owner” -- This is
self-explanatory – it is when an individual owes the property by
oneself.</h4>
</li>
<li><h4 style="margin-bottom: 0in;">
“Tenants by the Entireties”
-- This exclusively for married couples. When one of the spouses
dies the interest of the deceased spouse transfers automatically to
the surviving spouse without the use of an estate. If divorce
occurs then the “Tenants by the Entireties” converts to tenants
in common.
</h4>
</li>
<li><h4 style="margin-bottom: 0in;">
“Joint Tenants” -- when two
or more people own a single property together; but want to have the
same rights of survivorship as “Tenants by the entirety”. But
to create Joint Tenants four aspects of title must be present:</h4>
<ol type="a">
<li><div style="margin-bottom: 0in;">
<b>Possession – all owners must
own the entire estate there must be an undivided possession of the
property, where all owners have the right to enjoy the entire
property.</b></div>
</li>
<li><div style="margin-bottom: 0in;">
<b>Interest – all tenants must
have the same amount of interest in the property, if there is an
unequal amount of owned interest the property will have to be held
as tenants in common. </b>
</div>
</li>
<li><div style="margin-bottom: 0in;">
<b>Time – Each tenant must take
possession of the property at the same time.</b></div>
</li>
<li><div style="margin-bottom: 0in;">
<b>Title – Each tenant must
receive the title from the same source or grantor and from the same
instrument which would be the deed. The deeds must have one of two
things in it “Joint Tenants” or “Joint Tenancy with the
Rights of Survivorship”; if one of these two is not written in
deed it will be assumed to be tenants in common with no rights of
survivorship. When a tenant dies the property automatically goes
to the surviving joint tenants with no need of for an estate. The
thing to remember is that the deceased cannot pass their interest
in the property to their heirs. </b>
</div>
<ol type="i">
<li><div style="margin-bottom: 0in;">
<b>Joint tenancies will be
severed if one of the joint tenant’s files for chapter 7
bankruptcy signs a contract or deed without the other joint
tenants, which will convert to tenants in common.</b></div>
</li>
</ol>
</li>
</ol>
</li>
<li><h4 style="margin-bottom: 0in;">
“Tenants in Common” - when
there is unequal percentages of ownership between the
owners/tenants, which has no rights of survivorship. When one of
the tenants in common dies the interest in the property of the
tenant passes to his/her estate, it is important to remember that an
estate must be set up in order to convey or sell the property.</h4>
</li>
<li><h4 style="margin-bottom: 0in;">
“Life Estate Tenant with
Powers Vs. Bare Life Estate”
</h4>
<ol type="a">
<li><div style="margin-bottom: 0in;">
<b>Life Estate Tenant with powers
– An life estate tenant would create Life estate with powers in
which after his death the property would transfer to the
remainderman, and have full right to convey the property but not
until the death of the life tenant. The Life Tenant will have the
ability to encumber and convey the property during his life time
which will sever the life estate.</b></div>
</li>
<li><div style="margin-bottom: 0in;">
<a href="https://www.blogger.com/null" name="_GoBack"></a><b>Bare
Life Estate – is the same as a Life estate tenant with powers
except the Life Estate Tenant cannot encumber or sell the property
without the consent of the remainderman. After the death of the
Life Estate Tenant the property would convey to the remainderman
without a deed. </b> </div>
</li>
</ol>
</li>
</ol>
Understanding your options in tenancy is an important consideration with ownership of property and holding title. Consult an attorney about tenancy and title to determine what is in your best interest. If you are looking for answers to questions in Maryland you may contact attorney owned <a href="https://excaliburtitle.com/" target="_blank">Excalibur Title and Escrow, LLC</a> and ask to speak to our attorney about tenancy questions or concerns.<br />
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<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0Maryland, USA39.0457549 -76.641271235.878622899999996 -81.8048452 42.2128869 -71.477697200000009tag:blogger.com,1999:blog-8030153650116664651.post-70288894088984580232014-02-14T17:31:00.000-05:002019-01-31T12:36:30.323-05:00<br />
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<img alt="Will;Testament;Title Insurance; maryland; deed; easement;liens;illegal" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYOJJ_0-iPInboCMTDXILGLV-BC9JQrFpdj_kvh5Oi9U6bKtvYxQgH8bPvNgUY2vOrE7UVLoJMRDL84wMyUEKFyCdMGmzyS1SDoa_QhfkDHhYsnc5tT1-NK27qD8FrDQxQMcDnguDoYDM/s1600/Last-Will-And-Testament+.jpg" title="Last Will and Testament - Issues with Title of Property" /></div>
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<div class="MsoNormal">
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<h2>
<b>Ordinary Title Issues and Problems That Could Cost You:</b></h2>
<h3>
Have you considered reasons why you need a title
insurance policy? </h3>
<h3>
</h3>
<h4>
Your home could be new to you, although just about every
house carries a prior heritage. A good title abstract search will help discover
almost any title flaws linked with your property. In addition to, based on
terms and conditions in the policy, your current title insurance policy
delivers safeguards to suit your needs by title defects that may become
recognized when you finally close your current financial transaction. Some of
these title problems regularly found or needing to be resolved are:</h4>
<span style="font-family: "wingdings";"><br /></span>
<span style="font-family: "wingdings";">Ø<span style="font-family: "times new roman"; font-size: 7pt;">
</span></span><b>Unidentified
Liens:</b> Previous property owners may have unresolved debt or former debts
that is not your personal obligation but lending institutions, financial
companies and banks can place liens on your property for unsatisfied debt after
you close on the purchase of your new property.
For properties under current financial distress like foreclosure, short
sale or REO this is an area of special concern and value provided by title
insurance.<br />
<span style="font-family: "wingdings"; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: "times new roman"; font-size: 7pt;"> <b>
</b></span></span><!--[endif]--><b>Unlawful Deed:</b>
It’s possible the chain of title on a property looks fine the
possibility exists for a prior deed to have been made by a minor, immigrant
with undocumented status, a person of unsound legal mind, or a person reported
as single when in reality they were married.
These are examples of situations that could adversely affect the
enforcement or ownership of prior deeds.<br />
<span style="font-family: "wingdings"; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: "times new roman"; font-size: 7pt;">
</span></span><!--[endif]--><b>Public Record Mistakes, Errors or
Omissions:</b> People working in clerical or
filing services can make honest mistakes.
When they do the errors can be frustrating or difficult to resolve
without financial stress and considerable time when you try to solve them. <br />
<span style="font-family: "wingdings"; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: "times new roman"; font-size: 7pt;">
</span></span><!--[endif]--><b>Omitting Heirs: </b>
When an owner passes away, the ownership of the property may fall to
their heirs or someone named in a will.
If the heirs are missing or unknown at the time of the owner’s death the
possibility exists for heirs or family to contest the will or handling of the
estate. These circumstances can occur
subsequent to your property purchase and could affect your rights to the
property.<br />
<span style="font-family: "wingdings"; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: "times new roman"; font-size: 7pt;">
</span></span><!--[endif]--> <b>Survey
and Boundary Issues:</b> You may have
ordered a survey of the property you purchase or viewed an existing one but
other prior surveys may still be out there or previously recorded showing
changes or differences in boundary designations. It is possible bordering property owners or
some other party could claim rights to a certain portion of your property
purchase at a date in the future.<br />
<span style="font-family: "wingdings"; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: "times new roman"; font-size: 7pt;">
</span></span><!--[endif]--><b>Newly Discovered Will: </b> When the owner of a property passes away with
the appearance of no valid will or heirs the state could sell the assets of the
deceased including the property. When
you buy a home or property you as the buyer assume the rights as owner. In the future a will could be discovered and
surface potentially endangering the rights to your property.<br />
<span style="font-family: "wingdings"; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: "times new roman"; font-size: 7pt;">
</span></span><!--[endif]--><b>Undisclosed Easements:</b> Even if you own your land, home or
improvements on it the possibility exists for unknown easements at the time of
your purchase to prohibit or deny you the rights to use the property the way
you prefer. It could even allow other
parties access to some or all of your property.
Easements usually pose non-monetary issues, they can still adversely
affect the way you intend to use or enjoy the land or home on it.<br />
<span style="font-family: "wingdings"; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: "times new roman"; font-size: 7pt;">
</span></span><!--[endif]--><b>Forgery and False Documents:</b> The world we live in is not completely
honest. A false or fabricated legal
document filed with public records could make difficult circumstances for you
and your legal rights to the property once they are discovered and need to be
resolved.<br />
<span style="font-family: "wingdings"; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: "times new roman"; font-size: 7pt;">
</span></span><!--[endif]--><b>Unknown Encumbrances:</b> When you buy a property or home it is
possible a third party may hold claim to some portion or the entire
property. Examples of this include but
are not limited to unknown liens, prior mortgage, and covenants restricting the
usage of the property you own.<br />
<span style="font-family: "wingdings"; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">Ø<span style="font-family: "times new roman"; font-size: 7pt;">
</span></span><!--[endif]--><b>Falsely Impersonating An Owner:</b> Having ordinary, familiar or common names
make it easier for someone to pretend to be the owner. If the property you bought was sold
previously by an impersonator there is risk of losing your rights to legally
claim it.<br />
<br />
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<i>Be thorough and consider the benefits of having an owner’s
title insurance policy at the time you purchase a home, land or property. Owner’s title insurance often provides
coverage and protection for risks associated with your legal rights and title
to the property you buy. Be sure to get
a quote and full proposal for title insurance including owner’s title insurance
prior to settlement. Consider the cost
benefit and peace of mind the many covered risks a title insurance policy can
offer you. Ask questions and consult a
properly licensed title insurance agent or attorney for more information
specific to your transaction. For a quote or information on an owners title insurance policy in Maryland contact <a href="https://excaliburtitle.com/" target="_blank">Excalibur Title and Escrow, LLC</a> or other licensed title insurance agency.</i></div>
<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0Maryland, USA39.0457549 -76.641271235.878622899999996 -81.8048452 42.2128869 -71.477697200000009tag:blogger.com,1999:blog-8030153650116664651.post-23148157112567804472013-05-20T08:57:00.001-04:002019-01-31T12:37:19.202-05:00Deeds and Transfer Of Title - Basics<h2>
Deeds in Maryland:</h2>
<div>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEidu6FSxZ47BP-Pz6-ELff3v2rb_7-c-1925KQUH_mP2xcg0MFgGku8BBWTa6N8bRiafv1JaKVaQY12Y28wy919mg-dunvIHRMorPtxj4WHwMkTQr71hsInxukOP_YM6EVvr5RHLoPdvXk/s1600/Maryland+Real+Property+Deed.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEidu6FSxZ47BP-Pz6-ELff3v2rb_7-c-1925KQUH_mP2xcg0MFgGku8BBWTa6N8bRiafv1JaKVaQY12Y28wy919mg-dunvIHRMorPtxj4WHwMkTQr71hsInxukOP_YM6EVvr5RHLoPdvXk/s1600/Maryland+Real+Property+Deed.jpg" /></a></div>
<div>
<h3>
There are three normal types of deeds.</h3>
</div>
<div>
<br /></div>
<div>
<h4>
Quitcliam Deeds, General Warranty and Special Warranty</h4>
</div>
<div>
<br /></div>
<div>
In a general warranty deed, the grantor covenants he or she will warrant forever the property to the grantee against lawful claims and demand. What this means is that for the time period previous to and including the time while possession was excercised, the grantor is responsible to the grantee, for claims defects of the grantor and all his or her predecessors in title. This form of deed is not commonly used in Maryland.</div>
<div>
<br /></div>
<div>
The special warranty deed is the most widely used deed type in Maryland. The grantor covenants that he or she warrant forever the property to the grantee against any and all lawful claims or demand while he or she was in title. This is more limited exposure than general warranty deed because of the reduced risk of liability to claims and demands prior being in title. </div>
<div>
<br /></div>
<div>
Quitclaim deeds is also rarely used and often involves the transfer of less than full title or perhaps in situations where the grantor has little or no knowledge of the property's history. Conveyances by foreclosure trustees, estate representatives and attempts to clear issues with title when circumstances exist where questions without answers exist. What a grantor is indicating there may be some rights of ownership interest they are quitting their rights to make claim to it by the quitclaim deed instrument.<br />
<br />
A deed requires several components to effectuate what it is meant to accomplish. A Deed usually contains the following components but not all of which are required for it to be effective. <br />
<br />
<br />
<br />
<ul>
<li>The date of the instrument</li>
<li>A statement of what the instrument is...</li>
<li>The grantors and marital status </li>
<li>The grantees and marital status</li>
<li>The consideration for the transfer or "cost"</li>
<li>The transfer of the estate</li>
<li>The quality of the estate</li>
<li>The legal description</li>
<li>The warranty</li>
<li>The addendum</li>
<li>The quality of tenancy of grantees</li>
<li>The witness</li>
<li>Signatures of the parties</li>
<li>Acknowledgement</li>
<li>Certificate of Preparation</li>
<li>Affidavit of residency by seller's</li>
</ul>
<div>
Once a deed is executed and acknowledged by all parties needed then it must be recorded in the local jurisdiction where the property is located which constitutes notice and then presented to the Clerk of the Court for recordation. Once the appropriate fees have been paid the recordation will show in the index of land records for that jurisdiction. Other instruments like easements and deeds of trust are recorded among the land records as well.</div>
<div>
<br /></div>
Title companies in state of Maryland have the ability to understand and help you by and sell real property utilizing the correct instruments recognized by the state to effectuate the sale or transfer of interest. Excalibur Title and Escrow, LLC is one of many title insurance agents and <a href="https://excaliburtitle.com/" target="_blank">real estate settlement providers</a> eager to assist you in your efforts with real estate transactions like the sale or refinance of your home, vacation property, land or commercial building.<br />
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<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0Maryland, USA39.0457549 -76.641271235.878622899999996 -81.8048452 42.2128869 -71.477697200000009tag:blogger.com,1999:blog-8030153650116664651.post-87208927760045465952012-10-30T18:11:00.000-04:002012-10-30T18:14:48.163-04:00When is your real estate settlement really finished?<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUBb-IhrbSG90xHJrDlIy588y06Y-BZpYsWw2SG7aUIjCKTr82EEjjNEdG7ckHI6D7lFCvsa6UCie-PZo_JoSnGVI9bNwFGc2c5xFckPw2_WZNANMx7RrYJe5bJhnoFeMCV-D7qwwKxVQ/s1600/Maryland+Recordation+and+Lien+Release+Trap.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUBb-IhrbSG90xHJrDlIy588y06Y-BZpYsWw2SG7aUIjCKTr82EEjjNEdG7ckHI6D7lFCvsa6UCie-PZo_JoSnGVI9bNwFGc2c5xFckPw2_WZNANMx7RrYJe5bJhnoFeMCV-D7qwwKxVQ/s1600/Maryland+Recordation+and+Lien+Release+Trap.jpg" /></a><br />
<h2>
<b>Don't get caught in this trap! </b> </h2>
So you have just left the settlement table and finished signing all the paperwork looking forward to being finished with the process of buying your new home. You are all done and ready to focus on owning your new property. Thoughts of moving in, finding a renter, things you want to improve or work on could be in the forefront of your mind after settlement occurs. Most people never give it a second thought after closing but in today's day and age you need to remember a few major details still need to be memorialized and followed through with the finalize the purchase of your new home. <br />
<h3>
Your title company still needs to do the following:</h3>
<br />
<br />
<ul>
<li>Send monetary disbursements to all parties due money not paid at the table. This includes the payoff for any existing mortgages being paid off and released, homeowners association dues, water bills, inspection invoices, etc...</li>
<li>Recording your new deed and deed of trust reflecting the new ownership and title interests in the property, including payment of recordation fees, transfer taxes and property tax.</li>
<li>Paying for the title insurance to the Title Insurance Company issuing your title insurance polices.</li>
<li>Sending you copies of your executed documents from settlement if they didn't provide that to you at the settlement table.</li>
<li>Confirming the receipt of payment by original lender, obtaining or ensuring release of payoffs are recorded in the appropriate county land records.</li>
<li>Following up with the recording office to confirm your ownership interest is properly reflected with the county.</li>
</ul>
<div>
You need to realize all of this work is done after settlement and you should follow up with your settlement company to make sure the transaction is complete after a reasonable period of time. Ask your title insurance agent/settlement company to provide you with the following documents for your records after your settlement is concluded to be sure they finished the job and your interests in the property are protected.<br />
<br />
<ul>
<li>Deed - Deed with recording stamp by the county in which the property is located</li>
<li>Release - A copy of the release of any previous/existing mortgages that were paid off at closing </li>
<li>Closing Package - A copy of the documents that you signed at closing for you records </li>
</ul>
</div>
<div>
<br /></div>
<div>
<br /></div>
<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-79927013986235320772012-09-04T11:53:00.001-04:002016-01-07T16:56:33.893-05:00Location Drawing vs Boundary Survey<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><b>Every wonder the difference between a Location Drawing and a Boundary Survey?</b></span><br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span>
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Fundamentally the two types of surveys are the same they give the purchaser and lender a drawing of where property lines, improvements, building violations in relation to its neighbors and property boarders. But, the two surveys are very different when it comes to obtaining a mortgage and title insurance.</span><br />
<div style="text-align: right;">
</div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTSvcoD7Qseox3NyFLMWJjbLFC-yTscQo0p9h301D2wLcTnAHyTHemucLPDWNjN3Hn9fAuR_mHZFHjhHSUXCwhQPA0cotLJvLNfV4yAOZlc_PlZOvG5Fgu5mYOcE1QjcHzvw7gtYDf73Q/s1600/Land+Survey+Boundary-Location.jpe" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTSvcoD7Qseox3NyFLMWJjbLFC-yTscQo0p9h301D2wLcTnAHyTHemucLPDWNjN3Hn9fAuR_mHZFHjhHSUXCwhQPA0cotLJvLNfV4yAOZlc_PlZOvG5Fgu5mYOcE1QjcHzvw7gtYDf73Q/s1600/Land+Survey+Boundary-Location.jpe" /></a></div>
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span>
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">A Location Drawing - Shows the property lines and locates any and all improvements on the lot, using the legal description and any recorded easements, right of ways, etc. A location drawing is accurate up to one foot in each direction. A location drawing is not based on markers at the property.</span><br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span>
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Boundary Survey - Is done by a crew of surveyors "in the field", new markers are located at the property, and lines are determined where they actually are, not by the recorded plat but checked against it. There is little to no margin of error on a boundary survey.</span><br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span>
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">The other main difference is the cost of the two surveys. Most location drawings will vary between $250 - $400 (up to 1 acre) depending on the surveying company being used. For properties over 1 acre the title company will get quotes for the location drawings. A boundary survey is quite a bit more expensive because of the amount of time, man power and how accurate the boundary survey must be. All boundary surveys will quoted but the range for 1 acre or under could be anywhere between $700 - $1500.</span><br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span>
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">When it comes to obtaining a mortgage and title insurance when purchasing a new home, a location drawing is primarily the only requirement unless an encroachment or easement has come into question and the title company can not remove the survey exception from the lender's policy. </span><span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">A location drawing is usually not required on a refinance.</span><br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span>
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">When a new purchaser decides to purchase a new property and wants to put improvements on the property things like a shed, fence or a deck it is important to know where you property lines are and where the building set back lines are so that you do not encroach on your neighbors property, or violate a building code which could be costly for the new purchaser if they have to move the shed, fence or take down the newly constructed deck. This is where the benefit of the boundary survey would come into play and where the added expense can really save the homeowner in the long run.</span><br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span>
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Kenneth</span><div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Kenneth Huyserhttp://www.blogger.com/profile/08895010969744083773noreply@blogger.com1Baltimore Metro, USA39.40745269824815 -77.426793660937539.01638319824815 -78.07224066093751 39.798522198248151 -76.7813466609375tag:blogger.com,1999:blog-8030153650116664651.post-60969407504563104872012-08-06T14:57:00.001-04:002019-01-31T12:38:25.641-05:00Different Kinds of Title Insurance?<h2>
What are the different kinds of title insurance in Maryland?</h2>
<h3>
There are two basic kinds of title insurance that can be obtained for a real estate transaction:</h3>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhc_kt5_Qt544ClQkxRxS9RZymFu0OYE76_2gJocYWjEX_2k2Gqe7Eev5vT-wYvOmm8ZEhyphenhyphenxxIDIc0mcE7HmXbG6jQIRprN0rgh9qMiSIPTiGe2-pj71sHTAB-XfrsRmfFOJwGGm4cAE1U/s1600/Compare+Title+Insurance+Coverages.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="Maryland Title Insurance Comparison" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhc_kt5_Qt544ClQkxRxS9RZymFu0OYE76_2gJocYWjEX_2k2Gqe7Eev5vT-wYvOmm8ZEhyphenhyphenxxIDIc0mcE7HmXbG6jQIRprN0rgh9qMiSIPTiGe2-pj71sHTAB-XfrsRmfFOJwGGm4cAE1U/s1600/Compare+Title+Insurance+Coverages.jpg" title="Compare Title Insurance" /></a></div>
<div>
<br /></div>
Lenders Policy - When you obtain a loan on a property the mortgage lender will require a Lenders Policy for the transaction. The lenders policy provides protection for the lender in the event a title claim is made against the insured property. This protects the lender's interest and investment in the property. If a covered claim is made against the property the lenders title insurance will cover the investment of the lender and not the borrower or owner beyond the amount of the original mortgage or loan. Typically these policies are issued for the amount of the loan or mortgage and not the value of the property. Often times the value exceeds the mortgage amount leaving a gap in coverage for the owners interests. Because of this a second type of title insurance is offered to owners. See Below:<br />
<br />
Owner Policy - The owners policy is an optional title insurance policy issued on behalf of the owner of a property. The purpose of the owner's policy is to protect the owner for any monies at risk put toward the property. In the event of an insured claim the owner is protected for any covered risk transferred to the insurance company for the insured property. Often times an enhanced owners policy is available for purchase that provides coverage for more risks not covered in a basic owners policy. Consult your title insurance agent for a price quote and comparison for both prior to making a decision on which policy best serves your needs and budget if you choose to obtain the optional owners coverage.<br />
<h4>
A list of common coverage risk categories for a basic policy are listed below:</h4>
A third party claims interest in title<br />
Improperly executed document<br />
Pre-policy forgery, fraud or duress<br />
Defective recording of documents<br />
Undisclosed restrictive covenants<br />
<br />
A lien on your title because:<br />
a. a security deed<br />
b. judgment, tax, special assessment or<br />
c. a charge by a home owner's association<br />
Unmarketable title<br />
<h4>
Examples of covered risks in a typical enhanced owners policy may include the following:</h4>
Mechanics' liens<br />
<br />
Forced removal of structure because:<br />
a. it encroaches onto another property or an<br />
easement<br />
b. it violates an existing zoning law*<br />
c. of violations of a restriction in Schedule B<br />
<br />
Land cannot be used for a Single Family Dwelling<br />
(SFD) because use violates a restriction in<br />
Schedule B<br />
or a zoning ordinance.<br />
Unrecorded easements<br />
Pays rent for substitute land or facilities<br />
Rights under unrecorded leases<br />
Plain language<br />
<br />
Compliance with Subdivision Map Act, if any*<br />
Restrictive covenant violations<br />
Discriminatory covenants<br />
Covenant violation resulting in reversion<br />
Violations of building setbacks<br />
Enhanced marketability<br />
Access - Enhanced vehicular and pedestrian<br />
access<br />
Map, if any, not consistent with legal description<br />
Post-policy forgery<br />
Post-policy encroachment<br />
Post-policy damage from minerals or water<br />
extraction<br />
Post-policy living Trust Coverage for Trustee<br />
Post-policy living Trust Coverage for Beneficiary<br />
Post-policy automatic increase in value up to<br />
150%<br />
Post-policy adverse possession<br />
Post-policy cloud on title<br />
Post-policy prescriptive easement<br />
Boundary walls and fence encroachment*<br />
Insurance coverage forever<br />
<br />
* Subject to a deductible and maximum indemnity liability, which may be less than the<br />
policy amount. Note: You may change your type of coverage anytime prior to closing.<br />
<br />
As you can see there is a long list of available risks that you may get coverage for with an enhanced or expanded owners policy. It is recommended to everyone you compare costs, coverage, and policy types before making a decision to buy an Owners title insurance policy in Maryland. Often times the additional coverage can be purchased for a small additional premium relative to the entire transaction costs and may be a worthwhile purchase for protection in a property you are buying. An example of an instant online rating calculator for a Maryland Lenders and Owners policy can be found on <a href="https://excaliburtitle.com/" target="_blank">Excalibur Title and Escrow's website.</a><br />
This is an anonymous quoting engine and does not require you to provide contact information or email registration to obtain. Many title companies offer quoting engines like this on their website but if not when you can call them to discuss the pricing and coverage options. Of course the idea is to get you to call so they can sell you their services while on the phone but keep in mind in Maryland you have the right to choose a title company. Compare and choose wisely. <br />
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<br />
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<br />
<br /><div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0Maryland, USA39.0457549 -76.641271235.878622899999996 -81.8048452 42.2128869 -71.477697200000009tag:blogger.com,1999:blog-8030153650116664651.post-82450106919989893362012-06-27T08:30:00.000-04:002019-01-31T12:40:45.045-05:00A Free Consumer Guide to Maryland Title Insurance<h3>
A free unbiased <b>Consumer's Guide to Title Insurance</b> is available to anyone. The guide is published by the Maryland Insurance Administration. Anyone can download or view the guide in .pdf at the Maryland Insurance Administration website. </h3>
<div>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMiKjHGMNvwyg7K4fmC27P-3krR-sv0dId6CVcnZG3rf6ZjzFHDl3mpLEK-5RehX2AcDV6EhebKei2iJZ4fXuAWxb2ZLEQNoGixDPDrKwEN9uFY6eMMvvS6CG7DQ16O7tH6e8F2lamoeM/s1600/Maryland+Insurance+Administration.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMiKjHGMNvwyg7K4fmC27P-3krR-sv0dId6CVcnZG3rf6ZjzFHDl3mpLEK-5RehX2AcDV6EhebKei2iJZ4fXuAWxb2ZLEQNoGixDPDrKwEN9uFY6eMMvvS6CG7DQ16O7tH6e8F2lamoeM/s1600/Maryland+Insurance+Administration.jpg" style="cursor: move;" /></a></div>
<div>
<a href="http://insurance.maryland.gov/Consumer/Documents/publications/titleinsurancebrochure.pdf" target="_blank">CONSUMER GUIDE TO TITLE INSURANCE</a></div>
<div>
<br /></div>
<div>
Contents of the guide include:</div>
<div>
What is Title Insurance?</div>
<div>
Who's protected by Title Insurance?</div>
<div>
How Title Insurance is different than other forms of insurance.</div>
<div>
How to purchase Title Insurance.</div>
<div>
Information about the settlement process you need to know.</div>
<div>
The process and contact information for filing a complaint.</div>
<div>
A sample HUD-1 Form</div>
<div>
<br /></div>
<div>
This is a great source of information for those looking to get a basic understanding of what title insurance is all about in Maryland in a quick easy to read online brochure. Everyone should have at the minimum a basic understanding of title insurance before they shop for title insurance in Maryland. The website also provides a list of Title insurance companies who underwrite title insurance policies in Maryland. This list of Title companies a link to the companies main web pages where you can get more information about title insurance and specifics about the various companies for which you can compare and contrast.</div>
<div>
<br /></div>
<div>
Hopefully this little document is helpful to anyone needing a quick read to gain a basic understanding. The good thing about this guide is the fact the Maryland Insurance Administration produced it for the consumer and it is very unbiased and generic in format and contains no sales pitch content. Kudos to the administration for creating this handy learning tool.</div>
<div>
<br /></div>
<div>
Hope this was helpful! We encourage consumers to learn more about title insurance and to shop around. Hoping of course one stop along your way while shopping to compare price and service is with <a href="https://excaliburtitle.com/" target="_blank">Excalibur Title and Escrow, LLC</a> a Maryland title insurance agency and real estate settlement provider.</div>
<div>
<br /></div>
<div>
Todd</div>
<div>
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</div>
<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0Maryland, USA39.0457549 -76.641271237.4674879 -79.1681267 40.624021899999995 -74.114415700000009tag:blogger.com,1999:blog-8030153650116664651.post-31600387613112897222012-04-02T10:11:00.000-04:002012-04-02T10:11:03.555-04:00Grassroots ALTA Effort to Weigh In on Final HUD-1 Changes<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhq61sKLskAwlGefo8-kK-lw_N9vuyrw_mO7r1RV6sszheMRo6CZ7RQBxLGiYeukMWkAg97MBjw-pBjBkEh_xP5GgT-oKFE6qjzu79MsajWKT4pEHsnxZ2pAQYcbiFd_YQG7jqq2y-Mm_s/s1600/HUD-1+Cover.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhq61sKLskAwlGefo8-kK-lw_N9vuyrw_mO7r1RV6sszheMRo6CZ7RQBxLGiYeukMWkAg97MBjw-pBjBkEh_xP5GgT-oKFE6qjzu79MsajWKT4pEHsnxZ2pAQYcbiFd_YQG7jqq2y-Mm_s/s1600/HUD-1+Cover.jpg" /></a>A final draft of the new HUD-1 has been made available for review by the Consumer Financial Protection Bureau. The real estate title industry and other related fields have one final chance to weigh in on the new forms before they become final and are published in July 2012. If you have any opinion of the new form it is imperative that you let the Consumer Financial Protection Bureau know your opinions, suggestions and comments soon. One way to take action is via the ALTA Network Action Center:<br />
<a href="http://www.alta.org/action/grassroots.cfm">http://www.alta.org/action/grassroots.cfm</a> <br />
The ALTA Network Action Center communicates industry concerns to the Congress and various government agencies before new laws are written and go into effect. They are and advocate and voice for the Title Insurance Industry.<br />
<br />
An example of a few concerns with the new HUD-1 form:<br />
<br />
1. Making sure all seller costs are actually shown in the seller column not the borrower column.<br />
2. Costs associated with software and automation to comply with the new changes.<br />
3. Understanding the actual costs by combining them may actually be more confusing then keeping them listed apart for explanation and comprehension.<br />
4. Not having reference numbers on line items would be disastrous to some.<br />
<br />
There are many other concerns floating around the industry. Do your part and visit the ALTA Network Action Center and give your opinion. Collectively we can make a difference and it only takes a little time to provide much needed information and insight.<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-60568655127166942072012-03-12T15:26:00.002-04:002016-01-07T17:21:52.882-05:00Reduced FHA Refi Fees<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiG3yN6J_YmOed_rz3gPY11gCCZNEMf2ei-OP0omb-VffApQvyHXfbZuH13HlfC7z3FizfTmZiH9a-ZuSg78EbSva4evVlm5hmdg020ohFDb8lFL9ZgmUuu8AswUscxYELBtOGmnuEquKk/s1600/FHA+Loans.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiG3yN6J_YmOed_rz3gPY11gCCZNEMf2ei-OP0omb-VffApQvyHXfbZuH13HlfC7z3FizfTmZiH9a-ZuSg78EbSva4evVlm5hmdg020ohFDb8lFL9ZgmUuu8AswUscxYELBtOGmnuEquKk/s1600/FHA+Loans.png" /></a></div>
It looks like the White House is trying to help more homeowners refinance again. The new initiative will allow FHA Borrowers to refinance at lower costs if you received your FHA insured mortgage prior to June 1, 2009. The White House is estimating between 2 and 3 million borrowers would benefit from the reduction of fees.<br />
<br />
These loans will have the same benefits as a traditional FHA streamline refinance:<br />
<ul>
<li>no verification of income</li>
<li>no verification of employment</li>
<li>or credit</li>
<li>and most importantly they do not require a new appraisal on the property, which mean the underwater borrowers still have the <span class="blsp-spelling-corrected" id="SPELLING_ERROR_0">opportunity</span> to Refinance to historical low rates.</li>
</ul>
<br />
Reductions for the new rule:<br />
<br />
Upfront Mortgage insurance premium: from 1% of the loan amount to .01%<br />
<ul>
<li><span class="blsp-spelling-error" id="SPELLING_ERROR_1">eg</span>. $200,000 loan amount</li>
<li>Upfront 1% - $2000 Upfront .01% $20.00</li>
</ul>
Annual mortgage insurance premium: from 1.15% of the loan amount to .55%<br />
<ul>
<li><span class="blsp-spelling-error" id="SPELLING_ERROR_2">eg</span>. $200,000</li>
<li>Annual <span class="blsp-spelling-error" id="SPELLING_ERROR_3">MIP</span> 1.15% - $2300.00 yearly/$191.67 monthly</li>
<li>Annual <span class="blsp-spelling-error" id="SPELLING_ERROR_4">MIP</span> .55% - $1100.00 yearly/$91.67 monthly</li>
</ul>
<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Kenneth Huyserhttp://www.blogger.com/profile/08895010969744083773noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-26400604903767633002012-03-09T09:36:00.001-05:002019-01-31T12:42:10.445-05:00Online Quoting Available in Maryland for Title Insurance and More..<img border="0" height="211px" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibChSwn-F4sEVxZHkBJXZUvoJ0Y9HXatNkq-nuEj53TGWbqk3t8LIq48rfpOqxL3iXTtKBI753eYK2VXvLEk-M8rYcZ8DfyjUfUZ-szLuU7p7liZf3jiQHf5YwI13yqEL4WeH9Xggx5iI/s320/Title+Insurance+Quote+Calculator.jpg" width="320px" yda="true" /> <b>Maryland title insurance companies</b> are now offering online quoting tools in increasing numbers. These quoting platforms offer real estate agents, lenders and consumers more convenience and transparency. Another benefit is the 24hr access to information. This could prove to be helpful to many realtors and weekend warriors trying to get information at a time most title companies are closed for business. Convenience is a key ingredient to providing service in the modern world. People want things faster, more access and easier user friendly tools. <br />
<br />
<br />
Online title insurance quotes seem to come in multiple formats offering varying degrees of information and come from a variety of sources. It is important to know what you are looking for in a quoting engine tool and what the differences are before you embark on a quest to gather information or do some valuable comparison shopping online. <br />
<br />
Some websites are not title insurance agents or companies at all. The simply ask you to give them contact information and your email address phone number and more. Then they push that information along to any number of title insurance providers who they sell the information to as leads. In other words your information has now been given out to multiple sources that are going to contact you, try to sell you, put you on their email lists and call you or more. All of whom are companies you know nothing about. Sometime after you enter all your information they will get in touch with you offering the information you requested in various forms. Some use over the phone sales conversation, while others simply email you an estimate of costs. On the surface this sounds like a way to get title insurance providers to compete for your business and competition is good for everyone. <br />
<br />
In reality you have no way of knowing or qualifying the companies buying your leads. Are they attorney owned? Are they established? Bonded? Will they settle in your home? Is the location convenient for you? Will a notary be conducting your settlement or an experienced agent attorney? These and many more questions are unknown at the time you submit your contact information because it seems anyone can buy the leads. We recommend comparing and shopping around for sure but do so directly with companies after you have selected several you are comfortable are going be a able to provide you with the kind of settlement experience you are looking for and any other factors you deem appropriate.<br />
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Another form of online quoting is the estimator of title insurance costs. This is the website you may or may not have to enter contact information but where you get a scant limited estimate of what costs might be for title insurance with no guarantee and no assurance the information is accurate. These sites often direct you to call for an accurate quote. Can you think of any reason why they want you to call? Of course you can. Try to avoid sites that offer very limited quoting ability or those that don’t stand behind the numbers. This of course is assuming you are providing accurate information on the front end. No one can provide accurate title insurance quotes if the info provided is false or inaccurate. Garbage in and garbage out as they say. <br />
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Look for a website offering more than just the cost of title insurance. Find one where you can get <a href="https://excaliburtitle.com/" target="_blank">instant online anonymous quotes</a>. Pricing for title insurance costs including title search, closing fees, transfer tax and recording fees are the costs you need to be aware of and the items lender need to prepare your disclosure documents like a good faith estimate. The better sites offer free easy access to the information. They don’t make you input your personal email, phone number or more to get an accurate quote.<br />
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Some may claim to be exclusive quote providers but don’t buy into that story. Many title insurance providers offer accurate quotes online and are happy to help you in any way possible.<br />
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Consumers keep in mind you have the right to shop for and choose a title company you want to use. Don’t let anyone tell you otherwise. We encourage shopping around and competition so go ahead. Get on some websites, get a few quotes and or make a few phone calls. It doesn’t take long to get your hands on some great pricing information that can be helpful to everyone. Knowing how much your title insurance and related settlements costs are going to be and getting a fair market price are good things.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibChSwn-F4sEVxZHkBJXZUvoJ0Y9HXatNkq-nuEj53TGWbqk3t8LIq48rfpOqxL3iXTtKBI753eYK2VXvLEk-M8rYcZ8DfyjUfUZ-szLuU7p7liZf3jiQHf5YwI13yqEL4WeH9Xggx5iI/s1600/Title+Insurance+Quote+Calculator.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"></a></div>
<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0Maryland, USA39.0457549 -76.641271239.0457549 -76.6412712 39.0457549 -76.6412712tag:blogger.com,1999:blog-8030153650116664651.post-85229242818341882112012-02-23T10:51:00.002-05:002016-01-07T17:01:12.759-05:00The Importance of Title Insurance<div id="article-content">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0wb21vXQlKtgOTpkHSvKkn9sd-tR-8k2sECUUiBHt-WDvAFxgzaVpyqNtfPC_ZwhLKtseZ2vUnDlsKBRo9zFzszekUdbJ6Xk-fEB01H0WUGiDjaYgFuBDfmc33QgG7tgCjm9K7bteJl8/s1600/Importance+Of+Title+Insurance.png" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0wb21vXQlKtgOTpkHSvKkn9sd-tR-8k2sECUUiBHt-WDvAFxgzaVpyqNtfPC_ZwhLKtseZ2vUnDlsKBRo9zFzszekUdbJ6Xk-fEB01H0WUGiDjaYgFuBDfmc33QgG7tgCjm9K7bteJl8/s200/Importance+Of+Title+Insurance.png" width="200" /></a>The task of buying a home is no small one and the job is not really over with just getting your mortgage finalized. When you buy your home, the first thing you have to be sure of is that there are no issues with the title of the home and that the seller is actually the owner of the property. If there are issues that crop up with title insurance, then you will not be able to enjoy your home completely and it will definitely affect the resale value of your home. So how do you go about a title search?<br />
Once your sales contract has come through, approach a title professional who will scan through public records and find any issues that may be related to your home. What this search will generally entail is a review of all land records for the property that go back to as many years as available. This search will bring out details such as a previous owner defaulting on the payment related to the construction of a part of the house or an extension to it. If there have been an issue of property taxes or any other governmental taxes not being paid, then that will come up at this point. The title professional you hire will work towards solving all these problems before you actually settle on the house. Such investigation is actually important if you are looking at refinancing your home.<br />
There are times when minor issues with the owner's title policy are not matters of public record and can come up some other way. In such cases, you can give yourself a bit of immunity by getting the Owner's policy of title Insurance to protect you for any such trouble that can come up. Some of the problems that could come up can be related to any mistakes that may be there in the deeds themselves, any issues that have arisen from mistakes in examining of records, forgery or any sorts and the sudden appearance of undisclosed heirs.<br />
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<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Kenneth Huyserhttp://www.blogger.com/profile/08895010969744083773noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-41262074639655093142012-01-26T15:30:00.006-05:002016-01-07T17:26:11.061-05:00House Bill 87/SB 152<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEir7Orup40Dgyv-OHD7xmkrZrkRI4qMLiq-98Ao3vFarfAbCBBxrLCj9jwvjSWWJP59cRnnHY6KkmXXJnXIB39H5sZF5FY9F-EZXnRYlq9zQDzwa-7bYYn4UxMZBFQntZ8G60EdtCPeepE/s1600/House+Bill.jpe" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEir7Orup40Dgyv-OHD7xmkrZrkRI4qMLiq-98Ao3vFarfAbCBBxrLCj9jwvjSWWJP59cRnnHY6KkmXXJnXIB39H5sZF5FY9F-EZXnRYlq9zQDzwa-7bYYn4UxMZBFQntZ8G60EdtCPeepE/s1600/House+Bill.jpe" /></a></div>
<h6 class="uiStreamMessage" ft="{"type":1}" style="font-family: georgia;">
<span class="messageBody" ft="{"type":3}" style="font-size: 130%;">Since 1913 the Maryland Tax code has allowed and protected mortgage interest deduction. Governor Martin O'Malley has proposed a budget that will reduce the amount of mortgage interest deduction (House bill 87/SB 152) that some Marylander's can receive.</span></h6>
<h6 class="uiStreamMessage" ft="{"type":1}" style="font-family: georgia;">
<span class="messageBody" ft="{"type":3}" style="font-size: 130%;"><br />Maryland would be the first state to reduce the mortgage interest deduction. <span class="text_exposed_show">This bill may further delay the real estate recovery for Maryland and create less incentive for home ownership, which is something that Maryland can not afford to let happen.</span></span></h6>
<h6 class="uiStreamMessage" ft="{"type":1}" style="font-family: georgia;">
<span class="messageBody" ft="{"type":3}"><span class="text_exposed_show"><span style="font-size: 130%;"><br />In my opinion this bill will cause more damage to the state economy than any good from the revenue it will generate.</span><br /></span></span></h6>
<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Kenneth Huyserhttp://www.blogger.com/profile/08895010969744083773noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-1216514303587518422011-05-31T09:01:00.003-04:002016-01-07T17:23:41.125-05:00Time to Buy Property is Now<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQEnPt8Wiije1gzBi4dmGWypIWEwZ9lhw4QUDaRX_kXAurE9L6cct7YFudFfVyXu3kEV6QCxEo1jRsRQwvM3_FkC355fPPFKLrZMiRIyqft-_871od6H9PRXHcm4Pv4vzgEgThmFKRwhw/s1600/Time+to+Buy+a+Home.jpe" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQEnPt8Wiije1gzBi4dmGWypIWEwZ9lhw4QUDaRX_kXAurE9L6cct7YFudFfVyXu3kEV6QCxEo1jRsRQwvM3_FkC355fPPFKLrZMiRIyqft-_871od6H9PRXHcm4Pv4vzgEgThmFKRwhw/s1600/Time+to+Buy+a+Home.jpe" /></a>Mortgage rates have fallen below five percent again, to the mid four range. That means now is a great time to seek financing for the purchase of real property. According to the National Association of Realtors, new contracts to purchase existing homes dropped 11 percent in April, which is typically the start of the busy season for real estate transactions; and sales are off by 26 percent from this time last year. The drop in existing home sales contracts will likely keep prices moderated or even depressed in certain parts of Maryland. This, combined with the low interest rates on mortagages, creates an excellent buying opportunity. Anyone even considering purchasing a home in the next year might want to consider accelerating their plans and purchasing now to take advantage of the current opportunities.<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>MD Attorneyhttp://www.blogger.com/profile/15938214933546521233noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-91433461376026804542011-05-02T13:47:00.003-04:002019-01-31T12:43:38.566-05:00Mortgage Giants Align Guidelines<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_epzw2Yz0fO59EIkggBFbZlpA5qvhSNsxgdmpzhUtTLGfzEt87Xgx8NNL3oSVs8URR_bzXYDVgBStuKkTHoW5-g41OElM_RSUMPJeFiaBaBLFgUQ8qiia5ig-gwGuQergOqstkYQZykU/s1600/mortgage.jpe" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_epzw2Yz0fO59EIkggBFbZlpA5qvhSNsxgdmpzhUtTLGfzEt87Xgx8NNL3oSVs8URR_bzXYDVgBStuKkTHoW5-g41OElM_RSUMPJeFiaBaBLFgUQ8qiia5ig-gwGuQergOqstkYQZykU/s1600/mortgage.jpe" /></a></div>
The Federal Housing Finance Agency has now forced Fannie and Freddie to align their guidelines on dealing with delinquent mortgages and there customers.<br />
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Fannie Mae and Freddie Mac had two separate protocols with dealing with the delinquent mortgages after a push from the FHFA, the mortgage giants must now abide by the same process. They must engage with the borrower as soon as the customer becomes delinquent on their loans.<br />
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The mortgage servicers must work with the borrower(s) on coming up with alternatives to foreclosure until the 120th day of delinquency. The servicers will perform a formal review of the case to ensure the borrower knows of any alternatives before foreclosure is filed. <br />
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The FHFA stated the new process with force the mortgage service providers to contact the troubled borrowers sooner, and help develop a modification agreement quicker.<br />
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Fannie Mae CEO Michael Williams: <br />
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This initiative will direct service providers to reach families earlier, communicate more frequently and clearly, and provide relief, Fannie Mae fully supports this Initiative, and we remain committed to stabilizing communities and building a stronger foundation for housing."<br />
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<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Kenneth Huyserhttp://www.blogger.com/profile/08895010969744083773noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-38166407508749300752011-04-25T10:27:00.002-04:002016-01-07T18:35:34.853-05:00Record-keepingThe question is often asked: "How long should I keep copies of my financial records?" The answer is different depending upon who you are asking, and what type of records you are referring to. <br />
When you are talking about records from the settlement of the purchase of real property in Maryland, the answer is usually going to be "indefinitely." <br />
There are some very good reasons for keeping your records indefinitely.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihTkD4SB_Vw6cShOStN9kdp5AUoIsMsbY1AbeGCr4e0_tw9AQyqjjcHc-vja-4CFOFqhyphenhyphen2uk0W73MEeDChIMLX-jPsme1l0nB1I8kBSejgIsaxcOHYaqSPR-WYZGA0VoWZdFzE2UWRHhc/s1600/record+keeping.jpe" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihTkD4SB_Vw6cShOStN9kdp5AUoIsMsbY1AbeGCr4e0_tw9AQyqjjcHc-vja-4CFOFqhyphenhyphen2uk0W73MEeDChIMLX-jPsme1l0nB1I8kBSejgIsaxcOHYaqSPR-WYZGA0VoWZdFzE2UWRHhc/s1600/record+keeping.jpe" /></a></div>
First, you should keep copies of all of your closing documents at least until you sell the property, at a minimum. Your accountant will thank you and commend you. One cannot accurately calculate basis, gain or loss on the acquisition and sale of real estate unless the purchase records are available. This is similar to the need to maintain records from the purchase of equity securities, bonds and other financial instruments so that you may determine basis and gain/loss.<br />
Secondly, you need to keep your Maryland title insurance policy for as long as you own the property. You will need to be able to locate it in the event that you need to file a claim, just as you would need to locate any other insurance policy in the event of a loss. Furthermore, if you have your closing documents and you refinance your loan, you will be able to get a lower rate on the new lender's policy, known as a "re-issue rate." Your original Maryland title insurance policy is required to get the lower rate on the next transaction.<br />
So, make copies, and buy a filing cabinet!<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>MD Attorneyhttp://www.blogger.com/profile/15938214933546521233noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-13867825570233336832011-04-21T11:46:00.003-04:002016-01-07T17:21:39.768-05:00Getting A FHA Loan Anytime Soon?<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiG3yN6J_YmOed_rz3gPY11gCCZNEMf2ei-OP0omb-VffApQvyHXfbZuH13HlfC7z3FizfTmZiH9a-ZuSg78EbSva4evVlm5hmdg020ohFDb8lFL9ZgmUuu8AswUscxYELBtOGmnuEquKk/s1600/FHA+Loans.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiG3yN6J_YmOed_rz3gPY11gCCZNEMf2ei-OP0omb-VffApQvyHXfbZuH13HlfC7z3FizfTmZiH9a-ZuSg78EbSva4evVlm5hmdg020ohFDb8lFL9ZgmUuu8AswUscxYELBtOGmnuEquKk/s1600/FHA+Loans.png" /></a></div>
Yup they did it again. The Federal Housing Administration raised there FHA Mortgage Insurance Premium for there annual rate by 25 basis points. If you already have an FHA loan and do not plan on refinancing then this will have no effect on you. But if you are looking at buying or refinancing with FHA you will fall under the new insurance rates unless you had your FHA Case Number issued before April 18th. <br />
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Here is the example of the increase will effect you:<br />
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Based on 30 yr. Term - Greater than 95% or great LTV:<br />
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<table border="0" cellpadding="0" cellspacing="0" style="width: 435px;"><colgroup><col style="mso-width-alt: 6473; mso-width-source: userset; width: 133pt;" width="177"></col> <col style="mso-width-alt: 4827; mso-width-source: userset; width: 99pt;" width="132"></col> <col style="mso-width-alt: 4608; mso-width-source: userset; width: 95pt;" width="126"></col> </colgroup><tbody>
<tr height="17" style="height: 12.75pt;"> <td height="17" style="height: 12.75pt; width: 133pt;" width="177"><br /></td> <td align="right" class="xl24" style="width: 99pt;" width="132">Oct-10</td> <td align="right" class="xl24" style="width: 95pt;" width="126">Apr-11</td> </tr>
<tr height="17" style="height: 12.75pt;"> <td height="17" style="height: 12.75pt;">Annual MIP<span style="mso-spacerun: yes;"> </span>%</td> <td class="xl27">90 bps</td> <td class="xl27">115 bps</td> </tr>
<tr height="17" style="height: 12.75pt;"> <td height="17" style="height: 12.75pt;">Sales Price</td> <td align="right" class="xl26">$163,000</td> <td align="right" class="xl26">$163,000</td> </tr>
<tr height="17" style="height: 12.75pt;"> <td height="17" style="height: 12.75pt;">Min Down Payment</td> <td align="right" class="xl25">$5,705.00 </td> <td align="right" class="xl25">$5,705.00 </td> </tr>
<tr height="17" style="height: 12.75pt;"> <td height="17" style="height: 12.75pt;">Mortgage with Out UFMIP</td> <td align="right" class="xl26">$157,295</td> <td align="right" class="xl26">$157,295</td> </tr>
<tr height="17" style="height: 12.75pt;"> <td height="17" style="height: 12.75pt;">FHA Monthly MIP</td> <td align="right" class="xl25">$118.00 </td> <td align="right" class="xl25">$151.00 </td> </tr>
<tr height="17" style="height: 12.75pt;"> <td height="17" style="height: 12.75pt;">Change in Monthly Payment</td> <td><br /></td> <td align="right" class="xl25">$33.00 </td> </tr>
<tr height="17" style="height: 12.75pt;"> <td height="17" style="height: 12.75pt;">Yearly change<span style="mso-spacerun: yes;"> </span></td> <td><br /></td> <td align="right" class="xl25">$396.00 </td> </tr>
<tr height="17" style="height: 12.75pt;"> <td height="17" style="height: 12.75pt;">After 5 Yrs.</td> <td><br /></td> <td align="right" class="xl25">$1,980.00 </td> </tr>
</tbody></table>
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Fall the Link to the Mortgagee Letter from FHA. <a href="http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/11-10ml.pdf">Click Here!</a><div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Kenneth Huyserhttp://www.blogger.com/profile/08895010969744083773noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-5044059639069070242011-04-14T12:18:00.002-04:002016-01-07T18:24:59.124-05:00The Inside Scoop<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-wmsQg6OgP19wrjPxUpn9MShnjD3nsbftIYLfVqO7mJKqTPYyOuzSCyrwIgKR0dqaPzqhevBzyRurI2jvZ4r2VdoDFjtRhfxePjNk4aw6ZkJQb8Io3wnGiOm8N9qnBr4_QO6elvXd1-Y/s1600/Inside+Scoop.jpe" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-wmsQg6OgP19wrjPxUpn9MShnjD3nsbftIYLfVqO7mJKqTPYyOuzSCyrwIgKR0dqaPzqhevBzyRurI2jvZ4r2VdoDFjtRhfxePjNk4aw6ZkJQb8Io3wnGiOm8N9qnBr4_QO6elvXd1-Y/s1600/Inside+Scoop.jpe" /></a>Did you know that in most closings for home purchases in Maryland, the settlement agent will caluculate the pro-rated balances of certain bills related to the property such as property taxes and utilities? The purpose of calculating a proration is so that the seller pays just their portion of the bill up to the date of settlement, and the buyer only has to pay from the date of settlement forward. Buyers should always contact utility companies directly however, to ensure that the account is transferred into your name. The settlement company cannot do this for you. Did you know that first-time Maryland homebuyers do not have to pay transfer tax? You may still qualify even if you have purchased a home before, as long as enough time has passed. Be sure to ask your realtor or settlement agent about the credit and to see if you qualify.<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>MD Attorneyhttp://www.blogger.com/profile/15938214933546521233noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-63762970418225512232011-04-14T10:53:00.000-04:002016-01-07T18:25:56.108-05:00Baltimore Co. Title Company Owner Pleads Guilty to Wire Fraud.<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOvJys-gRI4xWuLDrkeHIaAsB_ije9yaOuVxuIBoZNc0GUbmFHK_B51HP1fs4eVuxXrBjqV7CWxfQkG722N-2x1yi0dWewfF0wKwk6-hbkvZy7aJOchFxH0nXde5C-7-UVhIhCKYMPDh4/s1600/Fraud+Triangle.jpe" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOvJys-gRI4xWuLDrkeHIaAsB_ije9yaOuVxuIBoZNc0GUbmFHK_B51HP1fs4eVuxXrBjqV7CWxfQkG722N-2x1yi0dWewfF0wKwk6-hbkvZy7aJOchFxH0nXde5C-7-UVhIhCKYMPDh4/s1600/Fraud+Triangle.jpe" /></a></div>
The owner of a Baltimore County Maryland title company pleaded guilty Friday to wire fraud. The charges were tied to a scheme to defraud homeowners, lenders and a title insurance company of more than $2 million.<br />
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A federal grand jury charged Daniel E. Fink Jr. of Baltimore, owner of Homemaxx Title & Escrow LLC, in March 2009 with wire fraud and money laundering. bases on the plea agreement, Fink arranged for his company to do title work for residential closings and refinancings, then concealed crucial facts about title insurance issued to home buyers or borrowers who refinanced. The fraud occurred between February 2003 and July 2004, the plea agreement said.<br />
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Its important to know your title company and who you are doing business with.... Ask the hard questions before your next settlement. Are you bonded? Are you audited? Can you demonstrate timely recordings etc. Maryland is a great state to own property and live but not all title companies in any state are created equal so get to know your title provider before your next settlement.<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>Anonymoushttp://www.blogger.com/profile/02169835344680730830noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-66237599854952460882011-04-12T12:05:00.003-04:002016-01-07T18:33:37.422-05:00Know Why You're Buying<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYLDOPSNr3E5enlC8NiK8kWKaOtQ4T_BRi-1nG2QDkY8NuJAClLHWFQF8AHbUgHgCiXZaY-DUYXeaw5BsuidF4aSXNGGBhKHxpHUYTIpugMe9KKpbfG90tG3nC9MkL2hpurdrFpPE1QdM/s1600/knowledge.png" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYLDOPSNr3E5enlC8NiK8kWKaOtQ4T_BRi-1nG2QDkY8NuJAClLHWFQF8AHbUgHgCiXZaY-DUYXeaw5BsuidF4aSXNGGBhKHxpHUYTIpugMe9KKpbfG90tG3nC9MkL2hpurdrFpPE1QdM/s1600/knowledge.png" /></a>If you are thinking of buying a home, be sure that you know what your goals are. If you are expecting property values to grow over the next ten years the way that they have in the past ten years and you are looking for a big payday when you sell, you may want to reconsider. When considering the purchase of real estate in today's economy, consider the average return on investment of real estate over time compared with other investment vehicles. If your goal is only to realize a huge gain on future appreciated value, and you don't intend to live in the property long-term or rent it, you might be better off putting your money into the equity markets where gains have outstripped real estate consistently over time. But, if you are looking to move in and live in the home that you purchase, or if you want to rent a property, your goals are different, and you would do well to look to buy now. Interest rates are low, and although they are not at an all-time low, they remain very good and will likely not decrease for a long time. The Fed is rumored to be considering a rate-hike and mortgage rates are going to be going up as well. Home prices are at record lows and inventory remains high with many short-sales and foreclosures holding prices down. Long-term home-ownership has many benefits that make it worthwhile, even if the long-term gain on the investment may be lower than other investment options. And if you are seeking to establish long-term rental investments, and you are saavy in your selection of properties and what you pay for them, you are certainly in the right market to be buying properties to hold and lease.<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>MD Attorneyhttp://www.blogger.com/profile/15938214933546521233noreply@blogger.com0tag:blogger.com,1999:blog-8030153650116664651.post-54274147831898366642011-04-11T16:12:00.002-04:002016-01-07T18:32:28.926-05:00Short Sale & Bankruptcy<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQweeE0hxjwiMH8lY1iK7P5AKDBwBz1TL3HroPH-46vJDR0dUYcK4HjhK5BiyhO8IaC9X8hSG0prIycftaR5IUHgavOGkD5-pBTlsAXzFgAzxp2qT0ZRI_gMnDwix8iYu13kVUTWE0z8Y/s1600/Short+Sale.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="221" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQweeE0hxjwiMH8lY1iK7P5AKDBwBz1TL3HroPH-46vJDR0dUYcK4HjhK5BiyhO8IaC9X8hSG0prIycftaR5IUHgavOGkD5-pBTlsAXzFgAzxp2qT0ZRI_gMnDwix8iYu13kVUTWE0z8Y/s320/Short+Sale.png" width="320" /></a></div>
If you are seeking approval from your lender for the sale of your property for less than you owe on the loan (short sale), and also considering bankruptcy, be sure to consider all of the permutations before you file anything. It is highly recommended that you seek the advice of bankruptcy counsel AND your lender and realtor. The filing of a bankruptcy petition prior to the closing of a short sale may have unintended and adverse consequences for your short sale approval. Many bankruptcy attorneys will give you good advice that might not take into consideration your pending short sale unless you have informed them of it. Furthermore, if your realtor and lender are unaware that you are considering bankruptcy, they may make recommendations that would be different if they knew you were filing for bankruptcy. The filing of a bankruptcy and short selling a property are interrelated and if not properly planned can cause difficulty in achieving either objective. So, consult your attorney, your realtor and your lender before doing anything.<div class="blogger-post-footer">http://www.xcaliburtitle.com A Maryland Title Insurance Company and Real Estate Settlement Services Provider</div>MD Attorneyhttp://www.blogger.com/profile/15938214933546521233noreply@blogger.com0