If you're a renter, property titles and ownership may not be something that's top-of-mind for you. However, title fraud and other property title issues can have serious consequences for both landlords and tenants. That's why Title App offers title security monitoring services - to help protect renters like Maria G. from San Diego from these types of issues.
Maria (who asked us to with hold her real name due to confidentiality reasons) is a renter who cares about the security of her housing situation. She decided to use Title App's title security monitoring service called TitleWatch to keep track of the status of her property title. One day, she received an alert that her landlord was in default on their loan, which was secured by the apartment building where she lived.
Unfortunately as the housing market cools, there are many landlords that are not able to keep up with mortgage payments, particularly in the commercial and apartment sector. This can spell big problems for tenants.
Maria was concerned about what this could mean for her as a tenant, so she decided to investigate further. With the help of Title App, she discovered that her landlord had indeed defaulted on their loan and that the lender was preparing to foreclose on the property. This meant that the landlord would no longer own the building and that Maria and the other tenants would likely need to find new housing.
Because Maria was aware of the situation early on, she was able to take action. She contacted her landlord and requested that her lease be modified to include a provision that would allow her to terminate the lease early if the property was foreclosed upon. The landlord agreed, and Maria was able to end her lease early and find a better place.
Title App's title security monitoring service provided Maria with the information she needed to protect herself from the potential consequences of her landlord's financial troubles. Without Title App, Maria may not have been aware of the situation until it was too late.
Stay ahead of the game with Title App!