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WRAP MORTGAGE FAQ’s – What Happens If The Buyer’s Insurance Cancels For...
Prior to cancellation for non-payment of premium, the named insured policy owner will receive several notices in order to make payment and keep the policy in force. If the policy does cancel, the...
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WRAP MORTGAGE FAQ’s – Can The Seller Of The Property Make Any Changes To The...
NO. Only the Named Insured (Policy Owner) has the legal authority to make any modifications to the insurance policy, file claims, cancel the policy, or receive refunds.
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WRAP MORTGAGE FAQ’s – What Happens To The Money In The Seller’s Escrow Account?
The money accumulating in the seller’s original escrow account will continue to do just that – accumulate. Although the seller may have agreed to transfer all monies in this account to the new buyer...
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WRAP MORTGAGE FAQ’s – What Is ‘Surplus Lines’ Insurance And Why is The...
The Surplus Lines insurance market (sometimes referred to as the non-standard market) exists to provide insurance to clients with risks that are not allowable in the ‘standard’ market. These...
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WRAP MORTGAGE FAQ’s – Why Do You Need So Much Property Information And What...
In order to develop the amount of insurance needed to adequately protect the property against loss, known as the reconstruction or replacement cost, we must first need to know the physical...
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WRAP MORTGAGE FAQ’s – Why Can’t I Get a Quote With Just Giving Basic or...
We regularly get asked the question “How much does insurance cost?” before even having a chance to put together a quote. A good answer might be “How much does a red dress cost?” With regards to the...
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Tenant Couple Sues Landlord over a Haunted Rental House
So you’re a landlord and you maintain strong leases and good tenant-screenings - what’s the worst that could happen? How about being sued for renting a haunted house? Are liability suits arising from...
View ArticleRecorded Webinar: Insuring Wrap-Mortgages
There are many issues involved when insuring wrap-around mortgages and, unfortunately, many investors and buyers are unaware of the potential problems and liabilities that they themselves may be...
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Insurance Rates Are On The Rise in 2013
.As an investor you need to be aware… Like I or not, it’s happening. Property and casualty insurance rates are on the rise for the entire nation and they will continue to increase over the coming...
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Actual Cash Value vs. Replacement Cost vs. Agreed Value
The impetus of this article is simple – we are asked multiple times a day by well-intentioned investors to improperly insure investment units for ‘Actual Cash Value’ (ACV) coverage instead of...
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