How we set up Insurance on our Subject To houses
Good Money Morning BP Fam,
I bought this house Subject To and want to show you how I set up the insurance policy. We must keep a policy in the seller's name to satisfy the mortgage company. But, now that I'm paying off the mortgage loan, what needs to be done to the policy? Today we're headed to my Insurance Agent's office to discuss what steps I need to take now that the loan is paid off. Watch and learn the details and steps we take to make sure we're covered should anything happen to the house. Remember, after you pay off the lender, it's all up to us to remember to pay taxes and insurance. There's no more reminder letters from the mortgage company anymore. This is part of growing as an investor and a wealth manager. You really don't become financially literate until you learn how to manage wealth because you can't EARN your way to wealthy!!!
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