Home insurance - Additional Insurer vs Mortgagee/Payee Loss

[Raj G.]

Hi All,

I am lending money to one of my friend's friend, he is putting his home on mortgage.

couple of questions. 

1.how to make sure that I am on first lien. 

2.  home insurance declaration says my name as "additional interest" then what is difference between "additional interest" and "mortgagee/payee loss"

also can somebody please advice me attorney for the same in New Jersey.

Thanks

Tag Private lending, bayonne, newark, union, jersey city, union, edison, new jersey