I may be late to this discussion party, but I was wondering: Since the title company and/or signing company is usually licensed and bonded, can an unpaid abstractor seek payment from the insurance or bonding company?
The borrower pays closing cost into this companies escrow funds which are later dispersed to the proper parties. If the closing cost consist of title insurance and a search fee, then are we not part of that transaction and thus due payment? I have not tried this as yet, but it was suggested to me during the BridgeSpan debacle. Fortunately for me, they only owed me $150.00 and that was not worth the hassle. Just Food for Thought!!!
to post a reply:
login - or -
register