Posted on Monday, October 18, 2010
To the Editor:
Re “After Foreclosure, a Focus on Title Insurance,” by Ron Lieber (Your Money column, Oct. 9):
Americans need assurance that the economy will rebound, yet this column simply incited fear by suggesting that homeowners who purchase foreclosed properties could lose their homes.
When home buyers purchase a property in good faith, they have an expectation of protection under the law. If a challenge to a property title arises because of a faulty foreclosure, homeowners with title insurance have protection in place to defend against this challenge.
In addition, any alleged deficiency in the foreclosure may not be accurate. Nightmare scenarios that people will lose their homes only breed fear and prolong recovery. Title insurance coverage dispels these fears.
Chief Executive Officer
American Land Title Association
Washington, Oct. 11, 2010