(However new official settlement document is an ALTA which no one likes and most title still use a HUD-1)  Any GOOD tile company should be able to handle this but most title companies are not very good when it comes to investor deals. 

Most all lenders will do a straight conventional cash out refinance immediately after you've purchased or rehabbed.When you start getting into reduced doc loans or high ltv transactions, the program will switch over to an alt-a loan.

Talk to your local title company and show them the deal and get a sample Alta statement which will give you a more accurate way to know your numbers.

There are some bad areas of 39212 but the only good area of 39204 I can think of is Alta Woods.

LEGAL Preliminary Title Report Underlying Title Documents Summary of Pending or Active Legal Issues Parcel Map/Site Plan/Elevations All CC&R Documents ALTA Survey - Historical & UPDATED.

Do any of you guys purchase in Terra Alta, WV?

That entire division is now gone but the way people still talk about subprime and Alt-A mortgages is frustrating.

While title can still pass without title being insured there may not be a way to "Ensure" the warranty is any good as claims would then become a personal guarantee of a seller, may not be able to collect for any loss.For more info, you can google ALTA, the American Land Title Association who governs title conveyance methods and aspects of settlements.

I completely agree with Rich that things are likely to get worse in the short term in many markets...with alt-a and option arm loans coming due in higher volume than at any point in history, there is sure to be greater foreclosure supply over the next 6-12 months.For the reasons Bill mentioned, I don't think it will have an impact on the banks any more so than it's had the past couple years, with the exception that banks may hold off the foreclosure process in many cases to keep their reserve levels within regulatory requirements (what they're currently doing with commercial property on the books).As for whether this is a bad time to flip properties, I think that's going to be market dependent.

That silliness was confined to the prime sector known as Alt-A.