First American Title offers assistance to victims of recent disastrous flood ...


Assistance to flood victims whose property has been damaged or destroyed in the recent disastrous flood in Stanislaus County was offered today as a community service by officials of First American Title Insurance Company.

Under the firm's disaster loan policy, First American offers a 50 percent rate reduction in the cost of title insurance coverage for those who have suffered losses in the flood, according to County Manager Paul Ventimiglia. The company established this program for disaster victims in 1966.

"This special service covers policies required by lenders for financing or refinancing the rebuilding of any structure which was partially or totally destroyed in the disaster area," Ventimiglia said. Also covered under these policies is the financing or refinancing through a Farmers Home Administration (U.S. Department of Agriculture Rural Credit Agency) loan where property damage or severe production losses have occurred because of the flood.

"These policies will be provided at 50 percent of the usual charges within 24 months of the date that a community is designated as a disaster area by gubernatorial (presidential) proclamation," Ventimiglia explained.

"In addition, First American will gladly aid persons in obtaining copies of valuable documents lost in the flood," he said. "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."

Anyone wishing to avail themselves of this service should apply to Joanne Von Savoye at First American's Modesto office, First American Title Insurance Company, 1506 H Street, or telephone (209) 529-5000.

First American Title Insurance Company, principal subsidiary of The First American Financial Corporation, traces its history to 1889. One of the largest title insurers in the nation, it offers title services through a network of more than 300 offices and 4,000 agents throughout the United States. It also provides title services abroad in the Bahama Islands, Bermuda, Canada, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and the United Kingdom. The company has its headquarters in Santa Ana, California.


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