What would you do if your investment was tied up due to a simple title mistake? This episode explores the critical importance of securing a lender's title policy when lending money. Rich Lennon shares a story about a $100K mistake that could have been easily avoided.. If you're lending money for real estate or working with private money lenders, this episode is a must-listen to avoid devastating financial consequences.

You’ll learn how to:

• Protect yourself with the right lender’s title policy.
• Avoid losing large sums of money due to title mistakes.
• Understand the key elements of title insurance and its impact on loans.
• Safeguard your lending practices with the correct legal procedures.
  

What You’ll Learn in This Episode:

(00:10 - 00:45) The risks of lending without a title policy.

(1:05 - 1:25) Rich shares a personal story about losing $ 100K.

(2:06 - 2:55) $50K property with $100K renovation, no lender’s title policy.

(2:56 - 3:40) Buyer claims property ownership, leading to legal complications.

(3:41 - 4:20) Mistake in title search results in a $100K loss.

(4:21 - 5:05) The impact of not having a lender’s title policy.

(5:32 - 5:55) Checking schedules and legal descriptions in the title policy.

(6:03 - 7:35) Understanding exemptions and requirements in the title policy.

(7:36 - 8:30) Importance of proper wording to protect lenders and investors.

(8:56 - 9:20) Ensuring gap coverage and updating title work before distribution.

(9:36 - 10:10) Preventing fraud by having the title company conduct final searches.

(10:11 - 11:00) Never lend without a lender’s title policy; protect investments.

Who This Episode is For:

• Private money lenders
• Real estate investors
• Individuals involved in lending or borrowing for property investments
• Those looking to protect their investments from title policy mistakes

Why You Should Listen:
You can’t afford to lend money without securing a lender’s title policy. Learn how to avoid losing large sums by making this crucial step in your lending practices.

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