All Forum Posts by: Peter J.

@Wayne Brooks I got a conventional mortgage for owner occupier

I am looking to transfer the title of the house to my LLC before getting the builder's risk insurance.
I am concerned that my mortgage lender might trigger the "Due on Sale" clause.

Or that they have a concern with the fact that I took a insurance through my LLC without notifying them ?

Thanks for your quick answer @Casey J Burkhead

I was hoping they wouldn't get notified automatically.

Is it an absolute requirement to have them listed as mortgagee on the policy?

Will the builder's risk insurance provider deny coverage if I didn't list my mortgage lender and were to make a claim as some point after taking on the insurance?

I am about to start the renovation of a house I own.

I'll take a builder's risk insurance to get insurance protections during the construction.

There is a mortgage on that house.

I'll have the mortgagee's name on the builder' risk insurance policy I'll take.

Question: Will the insurance provider for the builder's risk insurance notify the mortgage company of the insurance I am taking ?

Thanks.