Lawsuit Accuses Escrow Firms of Falsely Billing Home Buyers Millions

Today in the Seattle PI there is an article on a four local lawsuits that claims that escrow companies falsely billed millions of dollars in fees to buyers for services not provided or provided at a substantially lower cost than quoted.

The lawsuits center on reconveyance, the process of transferring a property title or removing a lien when a mortgage is paid off. It is part of any refinance or sale of a home with an existing loan. While this lawsuit is local to Washington State residents it could expand to a national lawsuit worth millions of dollars.

Four escrow companies were charged in the lawsuit, Chicago Title, Old Dominion, First American, and Fidelity National.

There is more information on the lawsuit by visiting the Seattle PI or the Hagens Berman websites.

It will be interesting to see if this lawsuit gains larger national interest or if it will remain a local issue.

Contact Scott Cowan, Rainier Real Estate. Licensed real estate salesperson in Washington at 253-219-1194 to list your property for sale or purchase a home in Tacoma, Gig Harbor, Puyallup, and the rest of Pierce County Washington. Gladly accepting referrals.

Copyright © 2008 By Scott Cowan, All Rights Reserved. "Lawsuit Accuses Escrow Firms of Falsely Billing Home Buyers Millions"

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