RISMEDIA, Nov. 1, 2007-Stewart Title of California Inc. is providing a 50% discount on title policies obtained for loans (and related escrow services) used for rebuilding structures that were destroyed or damaged during the recent wildfires. As part of Stewart’s rate filing, all basic combined charges for title insurance and escrow services are cut in half any time a state disaster area is declared as a result of a natural disaster.
“There is no way to really make losses easier to take,” said Brian Hurley, president of Stewart Title of California. “But there are ways to help, and we’re proud to have programs that ease part of the burden of rebuilding.”
According to the company, homeowners should contact their local Stewart office to find out more about how they can receive this rate relief for assistance in rebuilding. Proof from an inspector or other credible party will be needed.
Specifically, Stewart’s schedule of charges and forms for title insurance in California states, “In the event of a proclamation of a state or disaster by reason of a natural disaster such as an earthquake, flood or fire, title insurance policies obtained for loans, the proceeds of which are used for rebuilding destroyed or damaged structure shall be priced at 50% of all the basic combined charges. Any endorsements (are) to be priced at prevailing rates.”
For more information, visit http://www.stewart.com.