Title policies associated with loans for rebuilding homes discounted by 50 percent
SAN DIEGO, CALIF. (July 30, 2008) – Stewart Title of California, Inc., a wholly-owned subsidiary of Stewart Information Services Corp. (NYSE-STC), offers homeowners a 50 percent discount on title policies obtained for loans to rebuild homes destroyed or damaged by California wildfires. The title issuance is through Stewart Title of California’s underwriter, Stewart Title Guaranty Company, a wholly-owned subsidiary of Stewart Information Services Corp.
To date, more than 2,068 fires have been contained by the California Department of Forestry and Fire Protection; however, these fires continue to threaten thousands of homes, particularly in Northern California along the coastal range from San Benito County north to the Oregon border.
“Loss or damage to one’s home is a tragedy that brings tremendous stress and uncertainty,” explains Allan Wasserman, group president – western states for Stewart Title Company. “At such times, it’s important to help those in need and alleviate at least some of the anxiety brought on by such disaster. The dramatic nature of these fires really requires an outpouring of generosity from our community. We are glad to do our part to help our fellow Californians rebuild not only their homes, but their lives.”
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 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 www.stewartca.com.