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bank's attorney...

Posted by jb on June 20th, 2001 12:49 PM
In reply to Which Brings Up ... by Jay J -Moderator on June 20th, 2001 12:37 PM [Go to top of thread]

It is nice to think that your bank's or mortgage company's attorney is looking out for your interests. Maybe this is true to some degree but from my experience it is a good idea to hire your own. When I first bought my house the bank did the title search etc. and found nothing (as far as I know) and the sale went through. When I later refinanced and had my own attorney he quickly found that there was a missing party to the estate that originally created the subdivision. I should have had mortgage insurance the whole time but I didn't. The bank probably doesn't really care because know it or not, YOU purchase mortgage insurance FOR THE BANK when you finance a house. It isn't purchased for you unless you go out of your way to do it.

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