Friday, October 3, 2008
First real taste of foreclosure pain
Well - you never quite know what you'll get when trying to buy a foreclosure, and this week we got our first real taste. Turns out there a name problem in the chain of title with the house currently. The defect is explained as minor, but we really need this cleared up before agreeing to buy the house to protect ourselves. There are several answers to a solution so far, but we are in a waiting pattern (suprise!) again to let the lawyers do their thing and get some answers from the title insurance company. So we have what may be a pretty good potential for a settlement delay now while they sort the title out.