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When pensions run dry...
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<blockquote data-quote="wkmac" data-source="post: 794097" data-attributes="member: 2189"><p>More,</p><p> </p><p>The reason you probably never heard of them was that Land America writes real estate title insurance policies and the only time a company like that would matter is when you purchase real estate and you want to insure that the title is clean. All financial institutions require title insurance in the loan process mostly to protect the lender but most loans never have a problem when a good title search is performed prior to transfer of the real estate. If a claim is on the property and was missed, title insurance satisfies that claim while loanee and lender continue in a clean status. They mostly exist to the benefit of the lender and some lenders specify to a closing attorney from whom a policy is to be issued but most are OK with any number of companies that offer this service.</p><p> </p><p>Companies like Land America are in trouble because if so few homes are being sold, so few loans generated, I'd say not many title policies are being written either. Now what this type of insurance has to do specifically to the topic of retirement, I'll let others here debate but hope this helps to explain why you and the vast majority of Americans never hear of companies like this. The only reason I know is that my wife's law firm also handles real estate law and I happen to know of several of these companies by name. </p><p> </p><p>Hope this clears up why you've never heard of them and most likely never will.</p></blockquote><p></p>
[QUOTE="wkmac, post: 794097, member: 2189"] More, The reason you probably never heard of them was that Land America writes real estate title insurance policies and the only time a company like that would matter is when you purchase real estate and you want to insure that the title is clean. All financial institutions require title insurance in the loan process mostly to protect the lender but most loans never have a problem when a good title search is performed prior to transfer of the real estate. If a claim is on the property and was missed, title insurance satisfies that claim while loanee and lender continue in a clean status. They mostly exist to the benefit of the lender and some lenders specify to a closing attorney from whom a policy is to be issued but most are OK with any number of companies that offer this service. Companies like Land America are in trouble because if so few homes are being sold, so few loans generated, I'd say not many title policies are being written either. Now what this type of insurance has to do specifically to the topic of retirement, I'll let others here debate but hope this helps to explain why you and the vast majority of Americans never hear of companies like this. The only reason I know is that my wife's law firm also handles real estate law and I happen to know of several of these companies by name. Hope this clears up why you've never heard of them and most likely never will. [/QUOTE]
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