Comments on: Not all title companies understand short sales

By: Steve Londeau

Steve Londeau — Tue, 03 Nov 2009 12:17:34 +0000

Lighthouse Title just lost a LOT a business. THEY made the mistake, not one, but two, and then blamed everyone else. This is a prime example of why there are a ton of title companies going out of business. I’m glad it all worked out Darlene. Thanks to the great coaches at SREC and the support we receive from them, everything worked out in the end. I’m sorry you had to deal with the incompetence you did, and that you had to endure the stress of all of this. If they had only done their jobs in the first place none of that would have happened.

By: Darlene Root

Darlene Root — Sat, 31 Oct 2009 17:54:09 +0000

Lighthouse Title not only proved to be negligent in their practice, they we also willing to let the deal be undone by Bank of America. They did not even give a thought to the C buyer that had already moved in. After several conversations with the owner of Lighthouse Title, it was very clear that she had no moral compass and was only looking out for her best interest.
She was not willing to pay BoA the required money to settle, and threatened to have the deal foreclosed on if I didn’t “pony up” some of the cash required to “Make it go away”. She went on to say that if this went to court, she would sue everyone that was involved with the transaction.
I must say that if not for the help of the loss mitigation company, Mr. Watson and the coaches, I would have suffered a greater loss than I had. I applaud their wisdom and direction and am honored to be a part of the SREC program.

By: Sergio DeCesare

Sergio DeCesare — Sat, 31 Oct 2009 12:57:04 +0000

WOOOO, doggy, does that bring back some memories! HAd a title company once fax a HUD1 to a 3rd Lienholder I was negotiating a 10 cents on the dollar settlement with. Well, when they got whiff of who was getting what on the HUD and realized that closing was in only a few days, they suddenly decided they wanted $5000 instead of $500. They SAW they had us over a barrel. All because the Closing agent decided they had some right to see what was what. The owner of the Title company offered to write us a $5000 check after closing but I declined opting to use that “currency” in other ways with future closings, if you catch my drift. But that wasnt fun to see $5K of profit evaporate for no other reason than stupidity…..