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Updated over 11 years ago,

Chris Adams's profile image
Chris Adams's profile image
Chris Adams
  • Contractor
  • from Valparaiso , Indiana
  • Member since Sep 14, 2013
Connect

User Stats

604
Posts
327
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Chris Adams's profile image
Chris Adams's profile image
Chris Adams
  • Contractor
  • from Valparaiso , Indiana
  • Member since Sep 14, 2013
Connect
Chris Adams
  • Contractor
  • Valparaiso , IN
327
Votes |
604
Posts
Private Lending & Conventional Mortgage Advice

Key man life on $70k ?

Chris Adams
  • Contractor
  • Valparaiso , IN
Posted

I just got preliminary approval notice for end loan financing on my last rehab/rental property.

All the terms are fair, except

"Borrower will cause a life insurance policy covering the life of Chris Adams to be assigned to Bank. Minimum face value / death benefit shall be $50,000."

Kind of odd with such a small loan imho, is this a small bank kind of request?

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