Jenna’s* leisure trip to a mall turned into a true nightmare when she found that her car had been broken into. Her wallet carrying all her credit cards and ID was stolen. She prudently reported the incident to her bank and the credit card companies and replaced her ID.
Several weeks later, Jenna discovered a lender had placed a mortgage on her home. She could not fathom that someone could register a fraudulent mortgage without her knowledge. She contacted her lawyer, who contacted Chicago Title to assert that the insured mortgage was forged and her identity had been stolen.
Chicago Title investigated the fraud and retained counsel to defend the insured lender in a suit by the true registered owner. After a thorough investigation, our counsel managed to track the disbursement of funds and recovered a significant amount of the money. We then paid the remainder of the loan’s outstanding balance to make the lender whole and Jenna regained clear title to her home.
Without title insurance, this story would have had a very different ending.
For a competitive, one-time premium, loan and owner title insurance policies protect the lender and homeowner from fraud, title defects, survey matters, and so much more.
* Names and identifying details have been changed to protect the identity of the involved parties