First American Title in Monterey, California offers assistance to property ...


June 3, 1987, MONTEREY, CALIFORNIA

Assistance to property owners whose homes have been damaged or destroyed in the disastrous fire in Monterey County was offered today as a community service by officials of First American Title Insurance Company.

Under the firm's disaster loan rate that was established in 1966, First American can effect savings of 50 percent in the cost of title insurance coverage for those who have suffered losses in the fires, according to Rick Wilson, vice president and Monterey County manager of First American Title Insurance Company.

The insurance policy issued by First American under such circumstances covers "the financing or refinancing required by an owner of record within 24 months of the date of Proclamation of a State Disaster in rebuilding any structure which was partially or totally destroyed in the disaster area," Wilson said. "This policy will be provided at 50 percent of the charge applicable based on type and amount of insurance."

"In addition, First American will gladly aid persons in obtaining copies of valuable documents lost in the fire," he continued. "Duplicates of such documents as deeds, title insurance policies and others pertaining to property ownership may be provided after an appropriate examination of records. This service under these circumstances is, of course, without charge."

Persons wishing to avail themselves of this service should apply to Ute Isbill at First American's Monterey office, 659 Abrego Street.

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