All Forum Posts by: Hamilton Borden

 I never followed up on this! I tried reaching out to the insurance agency who the previous owners were insured through, they told me they could not add me to the policy. The sister of the seller worked for the insurance agency, so if there was a way to add it, I think I would have gotten it. My normal insurance agent also said it couldn’t be done. He only sells one insurance company, so I had to go to a broker who could run a whole bunch of different policies. He was able to get a policy that had the previous owner , who is currently my renter, as primarily insured and I would be secondary. They said that since they live there, they would have an insurance interest. So I don’t know how to get around it if they weren’t the renter. I learned to go with an insurance broker and not an agent! Hopefully that helps someone!

 Is it just that easy? My insurance agent told me they would have to be on the deed? Is that not true?

Thanks for replying! I thought my insurance agent said he couldn’t keep them since they weren’t on the deed. I’m meeting with my attorney to figure out how I can get them on the deed.

I’ve tried searching for how to add insurance with sub to, but can’t really find anything on the internet or on YouTube. Would Pace Morby be the guru you’re referring to? I’ve also tried adding his name into the title of the search with no luck. However, I could just be missing it!

Thanks for your time and reply!

I bought a house sub too! Kudos to Pace and Bigger Pockets! The house was going into foreclosure. I caught the payments up and deeded the property into my name. So I am the current owner of the house and have made 2 payments over to the mortgage company “subject to” the existing mortgage. Now a letter went out to the former owners saying they are going to require proof of insurance. Now the insurance is in my name obviously. What’s tips do you have so I don’t trigger the “due on sale” (also known as the “acceleration clause”)? They provide a link that I can upload it. Just pray they see it and don’t care it’s not in the name of who is on the mortgage?

The house would appraise for around $290k. It has about $124K left on the loan. Worst case would be refinancing out what’s left. But I would love to keep the super low rate on the loan if possible! Thanks in advance!

I bought a house sub too! Kudos to Pace and Bigger Pockets! The house was going into foreclosure. I caught the payments up and deeded the property into my name. So I am the current owner of the house and have made 2 payments over to the mortgage company “subject to” the existing mortgage. Now a letter went out to the former owners saying they are going to require proof of insurance. Now the insurance is in my name obviously. What’s tips do you have so I don’t trigger the “due on sale” (also known as the “acceleration clause”)? They provide a link that I can upload it. Just pray they see it and don’t care it’s not in the name of who is on the mortgage?

The house would appraise for around $290k. It has about $124K left on the loan. Worst case would be refinancing out what’s left. But I would love to keep the super low rate on the loan if possible! Thanks in advance!