All Forum Posts by: Ayinde Dick

Oh wow thanks a million you've been very helpful. My stress level has just been cut in half

thank you for your reply.I conducted a title search with a professional title company it was the same company that issued me the title insurance. The problem was the search was conducted two weeks prior to the auction and the bankruptcy was filed after the search only 3 days prior to the auction. It should have been cancel. Hopefully the refund process doesn't take more than 3 months the longer my money is tied up the more money I missing. Thank you for your reply.

I I recently won a foreclosure auction conducted by the city of Jacksonville in Florida. I purchased title insurance along with a homeowners insurance policy immediately following the sale. I waited the 10 days redemption period and contacted the city only to find out that title would not be issued in my name. 3 days before the auction the defendant filed for bankruptcy which means the auction should never have taken place. I contacted the city for a refund of my $85,000 cash and was told my funds couldn't be released until a judge made a final decision on this bankruptcy. Should my title or homeowners insurance cover my financial loss? If one of these insurance policies covers me will it cover the amount that I paid or the actual value of the home?