Title policies associated with loans for rebuilding homes discounted by 50 percent
SAN DIEGO, CALIF. (Nov. 21, 2008) – Stewart Title of California, Inc., a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), is offering homeowners a 50 percent discount on title policies obtained for loans to rebuild homes destroyed or damaged by California wildfires. Approved by the California Department of Insurance, the title issuance by Stewart Title of California is through their underwriter, Stewart Title Guaranty Company.
The California Department of Forestry and Fire Protection has made significant progress in containing many incidents; however, tens of thousands of acres continue to burn, particularly the vast Sayre Fire in Los Angeles County.
“The summer fires of 2008 were devastating for our neighbors in northern California and we are proud to continue offering our discounted title policy services to support the rebuilding effort”, explains Allan Wasserman, group president – western states for Stewart Title Company. “Stewart Title of California remains committed to assisting fellow Californians statewide during this difficult time as fires now threaten communities to the south.”
Homeowners interested in reduced-priced title policies used for loans acquired to rebuild destroyed or damaged structures, should contact their local Stewart Title representative. Visit http://www.stewartca.com/ for a complete listing of local offices. Proof from an inspector or other credible party will be needed to secure the discount. Stewart Title’s discount policy also applies to other natural disasters, such as earthquakes or floods, in the event of a proclamation of a state or federal disaster.
Stewart Title Company, Stewart Title Guaranty Company and Stewart Title of California are wholly owned subsidiaries of Stewart Information Services Corp. (NYSE-STC), a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries throughout the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com or http://www.stewartca.com/.