Sub To Insurance
I have a SUB-2 deal ...LOTS of equity. I'm trying to complete the whole process but I'm unclear about property/mortgage insurance.
Do we keep the original insurance in place and add my name as the only beneficiary?
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Thanks
JimT
I am also curious to this question as I am in the same sitaution.
Have a property that I just completed all the paperwork on and wondering how to handle the insurance?
his should help you both (I hope):
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=472
Let me know if you have questions.
Tim
thanks! that helps greatly!
I guess I need to go back and re-read all those articles
No problem. Hope it helps...
Tim
put the prop. in a trust, that way when the mortgage co. gets notified they will not suspect anything.
Anyone know if John Locke addresses the insurance question in his full course? I am sure he does, but just wanted to be sure. I am ordering his course soon..
Suntzu18
Yes it is-and more. Including sample forms.