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How Blockchain Technology Could Change the Real Estate Industry

In the simplest terms, blockchain is the ability to remotely share databases and processes, making them more centralized and accessible. For the real estate industry specifically, this could transform the industry by making it more modern and efficient. One such way is accessing the MLS Property Data system. Every real estate transaction goes through the […]

How To Ensure Your Real Estate Closing Happens on Schedule

When a title company is contacted to facilitate the closing for a property transaction, there is a great deal of information that they must gather in order to accurately allocate all monies and ensure that the documents reflect the most current, up to date and accurate information. One of the first things we do here […]

Improvident Transfers Act

Elder abuse cases often highlight the reality that the same frailties and vulnerabilities that make older clients easy victims, also make them imperfect witnesses and poor advocates for themselves. The state of Maine, however, has taken a unique approach in protecting its elderly from financial exploitation. In 1987 a group of lawyers advocating for financially exploited elders […]

Title Insurance and Refinancing Your Home

Unless you paid cash for your home, then you most certainly were required by your lender to purchase a lender’s title insurance policy when you bought your home. If you refinance that home, your lender will again require you to buy a new lender’s title policy. There are a few reasons for this. Each time […]

1 Phish, 2 Phish…

We’ve explained in the past how wire fraud – and other types of banking related fraud – are becoming widespread these days. Well one of the ways criminals are achieving this is through “phishing” scams. The term “phishing” is fairly broad. Some are somewhat harmless internet rollers, while others are professionals that have become more […]

The Difference Between a Title Agency and an Underwriter

A title underwriter is an entity that authorizes and issues authority for its agents (title agencies, like Cumberland Title), to write title insurance policies. The underwriter assumes the ultimate financial risk as they stand behind the policy and actually insures the property against insurance defects. They also agree to defend the owner of the title […]

Mortgage Amortization

You may have noticed the Amortization Schedule when signing mortgage documents, which is basically a really long calculation of all the mortgage payments the borrower will be making for as long as the mortgage was taken out for.  Simply put, “amortization” is the difference between the monthly mortgage payment and the interest portion it contains. […]

The Importance of Information Gathering (aka: Getting Your Ducks in a Row)

When a title company is contacted to facilitate the closing for a property transaction, there is a great deal of information that they must gather in order to accurately allocate all monies and ensure that the documents reflect the most current, up to date and accurate information. One of the first things we do here […]