Title Insurance on an Auction Property

[Vitaliy Volpov]

Hey guys,

Has anyone tried getting title insurance on a property they bought in a tax or mortgage foreclosure by a quit claim deed?  If so, who did you use?  

The response I got in my area is that title companies won't insure title on such a property until the new owner holds it for 1 or 2 years after purchase.  Has anyone been able to get title insurance sooner, specifically in New York State?  

The intent behind the question is either a bank refinance or a re-sale to a buyer using conventional financing (i.e. both of which require insurable title).  Thanks!

Vitaliy