Archives for Blog

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 undertook a legislative initiative, at a time where there was very little awareness of the problem. The result was The Improvident Transfer Act (33 M.R.S.A. 1021 et seq.). At this time, Maine’s Legal Services for the Elderly (LSE) was seeing a sharp increase in the
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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 you re-finance, the lender needs to know that they will be in first place lien position in the event the mortgage payments stop getting paid and there is a foreclosure. Also, once you refinance your home the old loan is paid off and therefore the
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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 than savvy at snatching up and selling your personal information. In either scenario, phishers are never trying to help you. Remember the trend a decade or so ago of emails sent to us from supposed rich princes or diplomats that just needed a few thousand
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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 policy in court should ever the need arise surrounding legal issues with the title. A title underwriter possesses a certain set of skills to do their job effectively. They bear a knowledge and expertise about the law and how it applies to specific situations, the
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