My client's mom, Hazel, wrote to thank me for making it easy for Jess her daughter and Jeremy (Jess's partner), to obtain a mortgage for their first home - a beautiful townhouse in Oakville, Ontario.
These kind of emails make my day!!
At the office, my assistant pointed out an article in the Toronto Star (April 7th - 2009) GTA Section. A mother on disability lost her home to fraud. This lady is being evicted from her home. Read the article here.
...Is there anything this lady or her Lawyers could have done to prevent this from happening? The answer is: Yes!!....Title insurance.
Title Insurance is a special kind of insurance that protects against loss from fraud, forgery, title defects and survey problems. It can insure against problems that could affect future ownership. One such insurance company is - First Canadian Title. Literature from this insurer claims that - Title insuance issued through first Canadian Title is the most comprehensive title insurance policy in Canada. For title matters covered under the policy, the insured is compensated both for the loss or damage experienced and/or legal costs incured in defending the title.
As of 2.23pm this afternoon the cost of title insurance for a property under $500,000 was $378.00, taxes included, for as long as you own the home. A very affordable fee for any family.
I recommend all home owners to ensure that they have Title Insurance on their properties. With electronic registration and white collar crimes on the rise - for under $400 you could save yourself a huge headache somewhere down the road.
No comments:
Post a Comment