Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Who pays the home insurance?

0
Posted

Who pays the home insurance?

0

You do. You get to pick the insurance company that you prefer, and make your own arrangements for payment. In this day and age, most home insurance is predicated on your credit score, so this arrangement allows you to get the best bang for your buck. It also allows you to get your contents insured at the same time, at no extra cost. We are named as the loss payee on your policy, as well as the particular financial institution that has provided us with financial resources that enabled us to finance the home for you.

0

You should not have to carry insurance because the person purchasing the land contract has to have insurance with your lender on their policy as mortgagee in case of loss.

0

Biggie @ Arbor Mortgage – after publication. –> April 3rd, 2009 at 12:57 pm You should not have to carry insurance because the person purchasing the land contract has to have insurance with your lender on their policy as mortgagee in case of loss.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.