Title Curative with Prior Lien Releases and HOA Estoppels
What is title curative?
Title curative is the process of resolving or “curing” defects on the title. ProTitleUSA's Curative Department is made up of trained specialists who are able to identify and cure the defect all at the same time provided title insurance is not required. When a title commitment or title insurance is required, we still have you covered! Our partner title company can issue exceptions to the title policy and identify the title defects while ProTitleUSA can cure them.
What are common title defects and what does ProTitleUSA do to cure them?Prior Liens and Mortgages
- Payoff requests
- Prior lien services or note holder search
- Paid prior lien release service
- Prepare and record a gap or corrective assignment
- Lien negotiation
- Payoff, compliance and inspection coordination
- Negotiation, payoff and release preparation
- Negotiate partial release of property from lien
- Early release of the IRS’s right of redemption
- Obtain release of SBA’s one year right of redemption
- Flat fee approach (per lien or per statement of work budget)
- Obtain current payoff amount for each lien reported in due diligence
- Negotiate junior judgments and release preparation
- Negotiate liens and prepare releases
- HOA search and payoff negotiation
- Water/Sewer/Utility search and negotiation
- Attorneys in NY, VT, NJ and CT to handle strict foreclosure
- Redemption after tax sales
- Negotiation and payoff
- HOA estoppels
- Negotiate release or payment
- Payoff and release preparation
- Exact status on each lien through account
- Spreadsheet reporting
- Missed mortgage, lien or judgment
- Wrong legal description
- Unrecorded deed or mortgage
- Letter of Indemnity from underwriter
- Find missing title policy in the collateral through a waterfall of contacts approach
- Coordinate issuance of the replacement policy for loans where title policy is missing from the collateral
Additional Questions and Answers:
What do title curative services cost?
The cost of title curative services greatly depends on complexity and the type of curative action needed. Generally, curative actions will range from $15.00 - $150.00 plus any applicable fees charged by third parties such as the county recorder. Document recording services range from $5.00 - $20.00 plus e-recording convenience fees, shipping costs and a trustee’s fee if a trustee is required.
How long does a curative action take?
Curative actions can be simple or they can be very complex. Some can be resolved in minutes, while others may take weeks or months. Depending on the type of curative action required, we normally can provide a general timeline up front; however, it is always subject to change. Our team keeps real time status logs detailing each action that has been taken per asset. This information is shared with our clients as often as they would like so that everyone is in the loop from start to finish.
Who needs the title curative process?
A defective title can affect anyone who is involved in a real estate transaction. Whether buying, refinancing or investing, a defective title will put an immediate halt to your endeavor.
Why choose ProTitleUSA for your curative needs?
ProTitleUSA has many years of experience reviewing title defects and finding the fastest, most effective way to cure them. We have a vast number of resources to assist in curing issues, obtaining payoffs, negotiating lien balances and preparing corrective documents. When it comes to the more complex issues, ProTitleUSA has been known to come up with inventive solutions and workarounds that the average curative specialist may not even think of. Our creative means allowed us to save our client, a seller, an incredible $480,000 of the discount requested by a buyer. We understand how important time and money are in this industry so we pride ourselves on our ability to provide savings in both areas through our efficient workflows.