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All Forum Posts by: Joe Reece

Joe Reece has started 1 posts and replied 2 times.

Private Lending & Conventional Mortgage Advice

Post: Forced Place Insurance

Joe ReecePosted
  • Posts 2
  • Votes 0

Chris, thanks for the advice.  I am planning on selling it once the foreclosure sale takes place and I get possession.   Borrower/owner failed to pay their hazard insurance policy, so I believe I need FPI at least until I own it, right?  I did find an insurance agent that is telling me he will sell me a conventional policy (much cheaper) but it would be in the borrower's name and list me as mortgagee.  I can pay the premium.  Is that even legal?  I think I just need FPI but the conventional policy would save alot of money.  What do you think?

0 Votes
Private Lending & Conventional Mortgage Advice

Post: Forced Place Insurance

Joe ReecePosted
  • Posts 2
  • Votes 0

Anyone know where I can get forced place insurance for a property I am foreclosing on in Florida?

0 Votes