Force placed insurance is just what it sounds like: insurance that is placed on something by force. The entity forcing the policy is the lender of money, and the one who pays for it is the borrower. Your opinion of this type of coverage probably depends on whether you are the party who receives aRead More…
Homeowners who allow their home insurance coverage to expire are at risk for the inability to pay out of pocket for repairs due to unexpected damage. This can prompt borrowers to default on mortgage payments, which may put lenders in a difficult financial situation. Here are three reasons why having additional lender placed hazard andRead More…