Why Altered Checks for Earnest Money are Unacceptable

Tue, 15 May 2012 16:35:22 -0500

Settlement agents are regularly pressured into accepting altered checks (which they should not) for earnest money. This usually occurs when the buyer’s original offer to the seller indicates one escrow company and then, somewhere in the negotiations, the principals agree on another escrow company. Real estate agents do not want to go back and ask...

What is bankruptcy? What options are available to the debtor and the creditors?

Mon, 30 Apr 2012 16:08:35 -0500

The purpose of bankruptcy is two-fold: (1) to give the debtor (the party filing bankruptcy) a fresh start and (2) to pay creditors in an orderly fashion. Bankruptcy is governed by federal law which usually trumps state law when it comes to the actions of both the debtor and creditors. Liquidation vs. Reorganization There are...

Condo, Townhome, PUD, or Plat? What they are, how they’re different, and how they’re identified.

Mon, 23 Apr 2012 17:28:47 -0500

Sometimes questions arise as to the exact nature of certain residential properties: It looks like a house but is it a condo, a townhome, built on a lot in a plat or what? Should I use a Residential Purchase & Sale Agreement or a Condominium Purchase & Sale Agreement form when I write up an...

10 Tips for Saving Resources

Thu, 19 Apr 2012 21:48:12 -0500

Every year on Earth Day we’re all reminded to look for ways to become more efficient, less wasteful, and more considerate of how our actions impact our environment. If you’re looking for ways to become a little greener, check out the tips below: Did you know? Ticor has taken the steps necessary to earn a...

HELOC Spending Spree – Was it Fraud or Ignorance?

Mon, 09 Apr 2012 20:52:05 -0500

Honest Mistake? During a refinance transaction, a home equity line of credit was paid off – but not closed. Later the refinance lender foreclosed and sold the REO (bank owned) property to a new owner. One of our underwriters insured the refinance, issued the trustee’s sale guarantee and insured the new owner on the sale...

Mineral Rights Reservations and Residential Property

Mon, 02 Apr 2012 21:47:53 -0500

The Smith’s offer has been accepted – a nice home in the suburbs, with schools and shopping nearby. The Realtor® has ordered the title report and it looks good…but what’s this? There is an exception for minerals. What does that mean? Is there gold in them thar hills? Will the Smiths wake up one morning...