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STATEMENT of INFORMATION First American Title Amp Escrow

STATEMENT of INFORMATION First American Title Amp Escrow

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hey friends it's joe tafoya seattle's mortgagebroker.com and today we're going to talk about title and escrow who they are what they do and why you got to have them so first it's really important that you know title and escrow two separate entities typically they're under the same roof but they do two completely separate functions first and foremost title is an insurance it's ensuring the continuity of the title of your home what happens if the person you bought the home had a big old judgment for 200 000 against the property you didn't know about it you bought the property and now your property has a big old judgment of 200 000 against it that is the entire purpose of title insurance escrow escrow is one of those funky ones escrow is a non-interested legally bound third party that puts themselves right in the middle of everything so that way when your financing is ready you put it into escrow and then what escrow does is it takes the ownership from the seller and then it mixes it arou

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