Posts tagged "mortgage"

Who pays for the home insurance when you are owner financing it? Also in the state of Texas what insurance c?

Who pays for the home insurance when you are owner financing it? The seller or the buyer? Also in the state of Texas what insurance companies provide mobile home insurance?

Who’s name is on the title, at the registrar of deeds? Until the title is passed to the buyer, the house is just a RENTAL, and needs to be insured that way. If this is a land contract, the SELLER should keep the policy to 1. make sure it gets paid and 2. make sure they have coverage in place, should the contract revert to rental. The buyer should THEN carry a renters insurance policy.

If the deed is being transferred immediately, then the BUYER gets the policy. Then the seller just has to hope that the policy gets paid.

Most of the time, owner financing is more hassle than it’s worth. If the person isn’t credit worthy enough to secure a mortgage on their own, they’re most likely going to default on YOUR mortgage, also. Then, depending on the condition of the property, you’re left with something basically unsellable.

Check out this site, if you want to find the cheapest home insurance just in one minute,

http://best-cheap-home-insurance-usa.blogspot.com/

Here you can get free quotes from different home insurance companies in your area, its the best way to find an afforable home insurance with a reliable company.

Best Wishes,

What Your Home Insurance Does Not Cover

In this weeks Conarchys Corner (length: 8 minutes) Ed Conarchy wants to know if you felt the shake, rattle and roll of the 3.8 magnitude earthquake in Northern Illinois at 3:59am Wednesday. Its a good time then to remind you that your standard homeowners insurance policy does not protect you from many things, including earthquakes. Ed will show you the complete list of things not covered. Also, Ed has uncovered a PBS special video that chronicles insurance companies failure to be there when consumers have had disasters and needed them the most. Finally, did you hear what happened to Senator Trent Lott when his home was destroyed by Hurricane Katrina? Ed shares all of this with you in this weeks Conarchys Corner.
NAIC – What Isnt Covered By Your Homeowners Insurance?

http://www.naic.org/Releases/2007_docs/homeowners_not_covered.htm

PBS NOW Video home insurance 9-1-1
http://www.pbs.org/now/shows/333/video.html

Duration : 0:8:52

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Sell Insurance From Home!!!

Are you sick of driving to no show appointments, and dialing high cost leads for mortgage protection? If the answer is yes, then watch this video and learn how you can write business from the comfort of your own home. There are unlimited leads meaning unlimited income potential and an extremely low overhead. Now is the time to get on board the train of the information age, learn it or get left behind!

Duration : 0:9:9

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Do I need to purchase title insurance on my condo?

I am financing it through a bank.
Yes, I agree I should get it. My question is will the bank give a mortgage without it?

Yes, all bank require title insurance.

Title insurance guards against claims to title (eg. other liens against a property, proper chain of title) This is done to ensure that the bank is in first position (set by recording date a lien is filed, oldest first).

Therefore, should something happen, and the bank need to foreclose, the property value would not be diminished by someone’s lien being paid off before theirs.

Title insurance covers the lender in the event of an error, and another claim to title affects their collateral. (the title insurance for a lender is only for the loan amount).

Income, Credit & Home Loans: Buying a House : Private Mortgage House Insurance (PMI) Tips

Private mortgage insurance (PMI) tips & how it can determine how much house you can afford. Find out how in this video on buying a home.

Expert: Brett Staggs
Contact: myspace.com/slowtrainmusic
Bio: Brett Staggs has been working in the mortgage industry for the past 6 years. He has worked for a title company, a credit reporting company, and two major banks.
Filmmaker: Dana Glover

Duration : 0:1:36

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New Florida Condo Owners Insurance Policy?

All condo owners are required to have their own home owners insurance policy. After paying my mortgage,and association dues,as a single parent with one income,I have no money left for this additional expense. What must I do?

home insurance covers lots of different things. I’m not familiar with the Florida laws and regulations, so I suggest you call a nearby homeowners insurance agent. http://www.easyhomeinsuranceguide.com/Florida-Home-Insurance.html They will be able to help you.

How much does home insurance typically cost a month in Bridgeport CT?

In the market to purchase new home, wondering how much it will cost monthly for insurance.
Thanks for your help.

No one can answer this question. I would think that it would be the same as any where else. Insurance is usually based on flood zones, age of home, furnace, brick or siding. How close it is to a fire hydrant. Maybe city or suburb. There are a few types. Replacement insurance which costs more but replaces the whole home and insurance just to cover the cost of the mortgage. All are base on the value of the house.

How much is home insurance per year in South Florida ?

Were purchasing a home around 300,000 how much is insurance yearly ? Anyone pay around this much ?

It doesn’t work that way. It’s ALSO based on the age of the house, YOUR CREDIT SCORE, the claims history of both you and the house, etc.

And the bad news is, there isn’t any competition for homeowners insurance in FL – you’re GOING to end up with the state fund, Citizens. The HOMEOWNERS part of it will cost you about $3,000 a year. The FLOOD insurance part will likely cost you about $1500 – but the MOST flood coverage you can get is $250,000, so you’ll be needing to put at least $50,000 down on the house or you won’t be able to get the mortgage. Then the WIND coverage is probably going to run you about $5,000.

Total insurance cost . . . budget $10,000, and you should be slightly under.

Let’s Talk About Homeowners Insurance

On this week’s episode of Show and Tell with The 2 Mortgage Guys, we’ve got special guest Alan Girton with Indiana Farm Bureau Insurance. Alan will be covering explaining the things you need to know when shopping for homeowners insurance and building your policy for your new home.

Duration : 0:9:48

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Insurance and home ownership

Whether you own a house or a condo, insurance is a very important part of owning a home.

Duration : 0:1:6

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