Our office will be OPEN on Monday, July 3rd.

Home Surety Title wishes you a wonderful weekend, and a Happy Independence Day!

In observance of Memorial Day, our office will be closed Monday the 29th. Normal office hours will resume on the 30th.

Thank you to the brave men and women who have given their lives for our country,

     A wire transfer is a fast way to send money electronically. When you send a wire, your money is moved directly from one entity to another, usually using a bank or credit union. Because it is electronic, no physical currency is involved, making it very easy to send large sums of money securely! The funds from a wire transfer can be used as soon as they are received, making them ideal for closing real estate transactions.
    
     The only risk associated with transferring funds via a wire is when the money is initially sent. You'll know where to send your money after receiving wiring instructions from your settlement agent. Very rarely, a scammer will try to send you fake instructions to trick you into sending your money to them, instead of your intended recipient. To avoid scams and the potential loss of funds, always make sure you confirm your wire instructions with your closing attorney's office. This should be done using a trusted form of communication that cannot be faked or intercepted by an outside party. Two great ways to do this are to call your closing attorney's office directly, or confirm instructions in-person at the closing.

     Once the instructions have been confirmed, and your funds have been sent, you can have peace of mind that you have sent your funds as safely as possible. 

     Happy closing!

​Have you ever wondered why you need title insurance? Your home may be new to you, but every property has a history. A thorough title search can help uncover any title defects tied to your property. And, subject to the terms of the policy, your title insurance provides protection for you from title problems that may become known after you close your transaction. Some of these common title issues are:
​
1. Errors in public records
To err is human, but when it affects your homeownership rights, those mistakes can be devastating. Clerical or filing errors could affect the deed or survey of your property and cause undo financial strain in order to resolve them.

2. Unknown liens
Prior owners of your property may not have been meticulous bookkeepers — or bill payers. And even though the former debt is not your own, banks or other financing companies can place liens on your property for unpaid debts even after you have closed on the sale. This is an especially worrisome issue with distressed properties.

3. Illegal deeds
While the chain of title on your property may appear perfectly sound, it's possible that a prior deed was made by an undocumented immigrant, a minor, a person of unsound mind, or one who is reported single but in actuality married. These instances may affect the enforceability of prior deeds, affecting prior (and possibly present) ownership.

4. Missing heirs
When a person dies, the ownership of his home may fall to his heirs, or those namedwithin his will. However, those heirs are sometimes missing or unknown at the time of death. Other times, family members may contest the will for their own property rights. These scenarios — which can happen long after you have purchased the property — could affect your rights to the property.

5. Forgeries
Unfortunately, we don't live in a completely honest world. Sometimes forged or fabricated documents that affect property ownership are filed within public records, obscuring the rightful ownership of the property. Once these forgeries come to light, your rights to your home may be in jeopardy.

6. Undiscovered encumbrances
When it comes to owning a home, three can be a crowd. At the time of purchase, you may not know that a third party holds a claim to all or part of your property — due to a former mortgage or lien, or non-financial claims, like restrictions or covenants limiting the use of your property.

7. Unknown easements
You may own your new home and its surrounding land, but an unknown easement may prohibit you from using it as you'd like, or could allow government agencies, businesses, or other parties to access all or portions of your property. While usually non-financial issues, easements can still affect your right to enjoy your property.

8. Boundary/survey disputes
You may have seen several surveys of your property prior to purchasing, however, other surveys may exist that show differing boundaries. Therefore, a neighbor or other party may be able to claim ownership to a portion of your property.

9. Undiscovered will
When a property owner dies with no apparent will or heir, the state may sell his or her assets, including the home. When you purchase such a home, you assume your rights as owner. However, even years later, the deceased owner's will may come to light and your rights to the property may be seriously jeopardized.

10. False impersonation of previous owner
Common and similar names can make it possible to falsely "impersonate" a property owner. If you purchase a home that was once sold by a false owner, you can risk losing your legal claim to the property.

See the original article on First American's website. 

Fed Leaves Rates Unchanged; No Hint on Timing of Next Hike
MARTIN CRUTSINGER, AP Economics Writer

WASHINGTON (AP) – The Federal Reserve is keeping interest rates unchanged in light of an uncertain job market and offering no hints of when its next rate hike might occur.

The Fed noted in a statement Wednesday after its latest policy meeting that the pace of hiring has slowed even as the overall economy has improved.

The central bank indicated that it needs a clearer picture of economic developments before raising rates again. It noted that the housing market is improving and that the consequences of an export slowdown have lessened. Yet it signaled its concern about the uncertainty of job growth and global economic developments.

Some economists think a July rate increase is possible if the job market rebounds from a dismal May and financial markets remain calm after Britain's vote next week on whether to leave the European Union.

"There are too many uncertainties to justify pulling the trigger," said Sung Won Sohn, an economist at the University of California's Martin School of Business. The Fed "wants to make sure that the surprisingly weak payroll number for May is a temporary phenomenon and not a harbinger of a weaker economy to come."

Besides issuing a policy statement, the Fed updated its economic forecasts, which show how it foresees rate hikes unfolding in coming months. A survey of the 17 officials found that six think there will be only one rate hike this year, up from just one official who thought so at the Fed's March meeting. The median expectation remains for two rate hikes this year.

The expectations for rate hikes in future years did slow: The median forecast shows just three hikes in 2017 and three in 2018, down from an expectation of four for each year. That change suggests that Fed officials remain concerned about a recovery that is still sending mixed signals on jobs and inflation and that they are comfortable that rates can be left ultra-low for longer.

The officials sounded a slightly more downbeat note about the economy's growth this year and next compared with their forecasts three months ago. They now expect just 2 percent growth both this year and next year, down from their previous forecast of 2.2 percent for this year and 2.1 percent for 2017.

Stock investors had little reaction to the Fed's statement. Stocks traded about where they were before the statement was released at 2 p.m. Eastern time. The yield on the benchmark 10-year Treasury note did edge down to 1.58 percent from 1.60 percent.

The Fed's move to leave rates unchanged was approved 10-0. Esther George, head of the Federal Reserve Bank of Kansas City, who had dissented in earlier meetings because she favored faster rate hikes, backed Wednesday's decision to keep rates unchanged.

For weeks, the Fed had been expected to consider raising rates at its June meeting. That view was encouraged by the minutes of its previous meeting in April. Those minutes suggested that a rate hike was likely if hiring and economic growth strengthened and inflation showed signs of accelerating toward the Fed's 2 percent target rate.

But this month, the government caught the financial world off guard when it said employers added just 38,000 jobs in May– the weakest gain in five years – and that job growth averaged only 116,000 the past three months, down from 230,000 for the 12 months ending in April.

Suddenly, expectations for a rate hike this month declined. And some Fed watchers expressed confusion about the central bank's approach to rates. Fed officials contend that they have long stressed that their rate policies are not on a pre-set course but rather are "data dependent."

At a news conference Wednesday, Chair Janet Yellen pointed to concern about the referendum next week in Britain over whether to leave the EU. A yes vote could roil markets, and the Fed wouldn't likely want to further unnerve investors with a rate hike just a week before that vote.

Yellen acknowledged that the looming vote contributed to the Fed's decision to leave rates unchanged.
"It was one of the factors," she said at the news conference. The Fed chair also said the vote's outcome could affect future rate decisions.

Some economists say the Fed could be ready to raise rates in July, assuming that the dismal May employment report is followed by a much stronger June number and investors don't panic after the vote in Britain. Other analysts think the economic outlook will still be too cloudy for a July rate hike and are pointing to September as the most likely time for a Fed move.

In addition to the May jobs report, other economic barometers have also sowed doubts – from tepid consumer spending and business investment to a slowdown in worker productivity to stresses from China other major economies.
And inflation remains below the Fed's target.
The Fed raised its key policy rate modestly in December from a record low near zero, where it had been since the depths of the Great Recession in 2008.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.