# 1338788, Hollywood Dell First Mortgage et. al. v. First American Title Ins. Co. et. al. filed, 8/4/09

Plaintiff's Attorneys: Eric A. Woosley & Victor G. Zilinskas

Settlement: $850,000.00                              Mediator: Paul Bielaczyc

Plaintiffs made two loans totaling $4,550,000, opened escrow on both loans and bought title insurance equal to the loan amounts.  Plaintiffs gave specific instructions to escrow to prepare a quitclaim deed to the husband of the borrower.  Defendants ignored the instructions, claiming the husband was not on the title report.  The borrower defaulted and Plaintiffs were unable to foreclose as the husband was on title. Defendants upon learning of this defect undertook efforts they claimed were reasonable and diligent to clear title, which was not completed until 13 months later.  Plaintiffs then re-initiated foreclosure. Defendants paid lost interest, carrying costs and additional monies.

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