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Monday, September 10, 2007

Housing woes hit title insurers




September 9 2007 Money.CNN.com
Title insurers report a spike in the number of claims, slowdown in new business; possible sign of more pain to come, according to a new report. Title insurance policies essentially protects lenders and homebuyers against challenges to a property's ownership and, according to the Journal, are often seen as a wider measure of the health of the housing market than foreclosures. Homeowners can file claims, but so too can subcontractors that file liens when work on a house goes unpaid.

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