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ComplaintsforPacific Coast Title Company
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Complaint Details
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Initial Complaint
06/20/2022
- Complaint Type:
- Billing Issues
- Status:
- Unanswered
In May of 2022 I sold my home in California. During the escrow process, I was informed by escrow per the title company that the second mortgage on my property which was included in Bankruptcy in 2009 would not need to be paid. The amount is $85,000. Proof of all documents were sent to escrow which were forward to the title company. During the process of closing my realtor was informed on 2 occasions by the title they did not need a reconveyance on the second mortgage because it was included in Bankruptcy. During this process I was asked to obtain the mortgage payoff which was received for the first mortgage. I informed the mortgage company my home sold. The only step left in this transaction was to record the sale. On the day the loan was to record I received a conference call from my realtor escrow agent and title company. The title company informed me at the 11th hour that they needed a reconveyance for the second or a payoff amount before they could record and needed it the same day. The title company not providing accurate information regarding this second mortgage on 3 occasions cost me $85.000. Had they instructed escrow in the beginning during title search that they needed this information and prior to requesting the mortgage payoff, I could have settled the second mortgage for pennies on the dollar since it was not being activley collected on and charged off in 2009. Settling debt is my business and I could have settled that debt for $5000. The title company cost me $80,000 due to there negligence.
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Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.