More ways the foreclosure crisis could sting homeowners

Just as homeowners insurance premiums will go up after a hurricane, the same result  is expected to happen to title insurance rates as a result of the foreclosure crisis to compensate for the additional risks that title insurance companies will now face. Why may you ask are there additional risks? They will undoubtedly face many more claims from those buyers they insure who after the closing are sued by those individuals who have been evicted from the home based on a foreclosure. The title companies are now aware of the fact that many more foreclosed homeowners are taking measures to try to challenge the foreclosure, even after the fact that they have been evicted. This Wall Street Journal article explains further why these circumstances will lead to higher closing costs for the rest of us. Read more

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