Title Companies

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Comment by Dustin Gaskey on February 4, 2009 at 1:45pm

Questions:
What is Title Insurance?
Answer:
Title insurance is indemnity insurance against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. Title insurance is principally a product developed and sold in the United States as a result of the comparative deficiency of the US land records laws. It is meant to protect an owner's or lender's financial interest in real property against loss due to title defects, liens or other matters. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy.

Comment by Dustin Gaskey on February 4, 2009 at 1:40pm

Questions:
What is an Escrow Payment?
Answer:
Escrow payment is the common term referring to the portion of a mortgage payment that is designated to pay for real property taxes and hazard insurance. It is an amount "over and above" the principal and interest portion of a mortgage payment. Since the escrow payment is used to pay taxes and insurance, it is referred to as "T&I", while the mortgage payment consisting of principal and interest is called "P&I". The sum total of all elements is then referred to as "PITI", for "Principal, Interest, Tax, and Insurance". Some mortgage companies require customers to maintain an escrow account that pays the property taxes and hazard insurance. Others offer it as an option for customers. Some types of loans, most notably Federal Housing Administration (FHA) loans, require the lender to maintain an escrow account for the life of the loan.

Comment by Jeremy Thompson on September 18, 2008 at 4:54pm

Equity Title Agency’s Northwest Phoenix location offers you over 35 years of combined escrow experience. Your closings are as important to us as they are to you. Call or e-mail today to learn more about the Equity difference. You won’t be disappointed and your customers will benefit!


EQUITY TITLE AGENCY, INC.
Jeremy Thompson
Branch Manager / Escrow Officer
3050 W. Agua Fria Frwy. #290
Phoenix, AZ 85027
P) 623-580-1218
F) 623-580-1219

Comment by Tawni King on August 4, 2008 at 12:17pm

An “Escrow Officer” is a trained professional that assists you in the handling of funds, property or documents that are being bought, sold or exchanged. The “Escrow Officer” oversees the terms of your ‘instructions’ and makes the decision that the conditions of ‘Escrow” have been met and then orders the transfer of the affected real or personal property to the parties involved.