Wayne,

I know only too well your pain.  I have been in the process of closing my title agency down since February.  A 24 year old family company that insisting in doing the best and most thorough job for their customers.  Everyone here is buying searches from the online vendors because of cost pressures.  Having been in the business for 40 years I was prepared through savings to last this out for 2 years (always worked in the past) but not 4 going on 5 years and now no end in sight.  My son who was the Chief Title Officer for 15 years with me has been uable to find work.  All my other employees were out of work for for a long time also but have since gone back to school or are starting over in a new field at minimum wage.  Very bad times for people.

My advice is based on my personal circumstances and my negative outlook on everything I see happening.  I believe our entire industry is changing (and not for the better for us oldtimers).  Underwriters are writing casualty insurance (though they will not admit it) and only need us there to do the hard work but will not hesitate to throw us under the bus if there is a claim so that they can hit our E & O.  Knock on wood that the quality work we have done over the years has spared us from the huge judgments that have hit many of my competitors.  We have a target on our backs and the last few years proved to me that we cannot be profitable doing things the way they should be done.  Everything need to be done on the cheap to compete.  Good quality service has gone out the window because the market does not seem to want it.  Perhaps when all the bad foreclosures are a distant memory and the whole industry sees what can happen without our best work, we can rise out of the ashes again.  I will not be around to see it though.

Do not let this mess take you down personally.  I kept thinking things had to change and kept feeding my operation to keep my family members employed.  Big mistake on my part.  I am now ruined financially and kicking myself in the a** for not getting out when Company resources were gone.  Now I have nothing to show for 40 years in the business except for a reverse mortgage on a home that should have been paid off years ago and lots of business loans that will need to be repaid.  Use your savings for yourself and family or for training in a new field.  I wish I was not so negative but I have been around a long time and I only see things deteriorating further.

My best wishes are with you,

Angie McKinnon