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Updated almost 9 years ago,

User Stats

824
Posts
281
Votes
Kenneth LaVoie
  • Rental Property Investor
  • Winslow, ME
281
Votes |
824
Posts

Getting a property insured you're holding the mortgage on.

Kenneth LaVoie
  • Rental Property Investor
  • Winslow, ME
Posted

We sold a house a couple years back and are now foreclosing on it. They have failed to insure it, so our interest is at risk. When this happens with bank financing, the bank simply gets insurance themselves and bills the mortgagee. This is NOT easy for a private seller to do. I did have a policy through Lloyd's of London for one year but they won't renew. Does anyone know of an insurance company that deals in this sort of thing? Thank you!

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