Missed Lien By Title Company On House
Location: Maryland
We bought our house in 2021. Title company missed a lien (I believe HELOC) at closing. Discovered this in 2024- accidentally opening one of the statements that had been mailed to my home in old sellers name. $45k original loan that has since grown to $240k.
Title company has pretty much admitted this was missed by them. Old sellers aren’t responding. The only correspondence was that they paid this off- which can’t be true considering a statement still gets sent to the house monthly. I for an unknown reason did not get title insurance.
It’s my understanding that this should fall under the title company’s E&O policy, since it was missed, not hidden, etc. We are at the point of my attorney threatening a lawsuit. She stated that a lawsuit could get extremely expensive with no promise of reimbursement of legal fees (which is hard to understand considering the title company clearly missed this).
Looking for any advice. Is this process correct? What are the chances of getting reimbursed legal fees? Attorney said this could cost me $50k- is that an accurate number?
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