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Terrence Said:

Refinance a non-recourse loan in california?

We Answered:

A non-recourse loan is one where the lender is counting on the collaterall to be worth the loan amount. Correct? So if you refinance both loans, to a different loan program, the non-recourse loan is paid off by the refinance. Simply tell the lender you plan to refinance with that the loan CAN NOT be a non-recourse loan.

Erik Said:

i bought an investment property, and now it has title issues. i have title insurance. what happens now?

We Answered:

What is on the title that prevents it from being sold? If it's something that the title insurance company covers, then they will indemnify you.

This happened to me when I bought my home four years ago. I got a letter from an attorney saying that the previous owner had a lien against her name - which then transfered to the house when she became owner. The title company didn't catch it when I bought it. The attorney said he was going to begin foreclosure proceedings against me if the $10,000 lien was not paid. I contacted the title insurance company. They said they knew of the issue, but was not going to do anything unless he actually did begin foreclosure proceedings. I argued that they guaranteed me clear title. They correctly pointed out that title insurance does not guarantee clear title, but guarantees against a loss. Nothing ever came of it. The attorney was bluffing.
I learned much back then.

Gina Said:

Can I claim on title insurance if the title company forgot to sign the check and we were left with a bill?

We Answered:

You can certainly try. I used to work for a title company and we had situations like this. I would go to the title company and raise as much grief as you can. Due to their error, you have been made to pay more money, this is not your fault. Call whomever you can, the better business bureau, your local news channel (maybe you'll get on TV!). No business likes bad publicity, a good threat alone should be enough for them to assist you