Forced Insurance/REO Insurance
Who is everyone using for 2 types of insurance: 1) Forced Insurance where we own the mortgage on a property and the HO's have not kept insurance up on home....we want to place insurance on it. 2) We get deed off of the Homeowner, they move out, we take title to property, and it's sitting vacant...who are you using for this insurance. It's probably the same folks who insure REO types properties. Thanks, Brandon
Comments(0)
Try Foremost on both scenarios...good place to start, in my opinion.
Tim
Interest question. Something I am definitely curious about as a note investor. I have not had to buy such insurance to date (fingers crossed).
John
[addsig]
Did you, can you, do you want to make failing to keep insure in place a material breach which trigger the power of sale clause.
I bought a REO, and didn't OO, but rather I started a rehab and lived in an Apt.
Allstate was happy to get my business.
Norrist,
Thanks for response. I'll check them out today.
cjmajur....I do not understand what you are asking me...
if you're concerned about insurance being in place, make it part of the contract. if the fail to keep insure, you can forclose/cancel the deal.
if you're concerned about insurance being in place, make it part of the contract. if the fail to keep insure, you can forclose/cancel the deal.