What If Your New York Title Insurance Provider ‘Tore Its ACL’? (Video)

By | February 7, 2018
torn acl photo

Photo by bradleypjohnson

As Kristaps Porzingis Was The New York Knicks Plan A, For Attorney’s And Mortgage Loan Originators In New York What Would Happen If Your Title Insurance Provider Plan A Went Down?

When the New York Knicks went into Tuesday nights game against the Milwaukee Bucks, they were a team that was setting its sights on making it into the NBA playoffs for the first time since the 2012-2013 season!

Key to any such postseason success revolved around Kristaps Porzingis,  the 2015 NBA draft 4th overall pick and the New York Knicks 1st round selection.

And then, on a seemingly routine play, the hopes and dreams for a playoff appearance were most likely dashed…

The result is a torn ACL, a loss of Porzingis for the rest of the season and, most likely, another year of Knicks playoff futility!

What About Your Title Company’s ‘Knees’?

Relationships! We all have them and there is nothing more critical to businesses thriving and growing than strong ties to clients and partners.

Hallmark Abstract Service, as a business that holds its relationships with our clients dear, knows that our industry competitors do the same.

With that in mind we never look to usurp any companies relationships, but we do however suggest to potential clients that they always have a strong and reliable Plan B ready in the event of some unforeseen hiccup that renders their go-to title company unavailable.

Unlike the Knicks who do not have a viable replacement for their young superstar and now face what likely will be extremely difficult days heading into the 2nd half of the season, an attorney or mortgage lender cannot simply address title insurance company issues through a trade or by waiting until next years draft.

Indeed, when Hallmark Abstract Service opened its doors about 10-years ago during the depths of the financial crisis, many in the New York real estate industry were facing a title company crisis as transactions dried-up, the credit markets seized and many title insurance providers along with title underwriters closed their doors.

Conclusion

Simply, New York real estate attorney’s or actually any attorney who at some point has real estate clients, should have contingency plans in place for any what-if scenario.

Hopefully such a scenario never occurs but, if it does, you will be prepared!

Michael Haltman, President
Hallmark Abstract Service

Board Chair, Heroes To Heroes Foundation

Email: mhaltman@hallmarkabstractllc.com
Phone: Long Island – (516) 741-4723, Manhattan – (646) 741-6101

 

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