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Updated almost 12 years ago,

User Stats

82
Posts
51
Votes
Thomas DeMoss
  • Rental Property Investor
  • Chattanooga, TN
51
Votes |
82
Posts

Uninsurable house

Thomas DeMoss
  • Rental Property Investor
  • Chattanooga, TN
Posted

Ok, I got a call the other day from a friend with a sfh she is trying to sell. Currently rents for $975/month and is 3/2 that has been rehab'd. She has several properties and has had multiple insurance claims recently which has caused her to be black flagged by all insurance companies. The bank which holds the mortgage on the house can insure her but will cost almost $2000/year.
She has tried to sell the house with a realtor with no luck. She put to much into the house and it will not sell for what she needs to pay off loans. Any suggestions?

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