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Workers, Home Buyers Stunned By Company Closure

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Jul 31, 2008 6:13 am US/Pacific

Workers, Home Buyers Stunned By Company Closure

Financial Title Closes All California Offices

SACRAMENTO (CBS13) ― Hundreds of local employees are out of a job and home buyers left in limbo after a large title company shut down all of its California offices.

Financial Title Company closed 57 California offices Wednesday. 15 of the offices are in the Sacramento region.
 
One employee told CBS13 she's not getting a severance package or a final paycheck.

The state of California is working to make sure all of Financial Title's escrow accounts will be properly processed by First American Title Insurance which is now handling the accounts.

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

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