Has anyone seen the November 13th issue of Forbes magazine which has an article stating that title insurance is unnecessary? It looks at the Big 3 insurers and concluded that approx. $1,300 is collected for the title premium on the average home purchase (in Calif., I believe) and only $74 is paid out on claims. Basically a cash cow for underwriters. But I didn't see any mention of the hidden risks which are covered. Article lacked balance but it will provide fodder for discussion.
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