A brief lapse in extended federal unemployment benefits and fresh layoffs at restaurants and other businesses toward the end of 2020 added more financial stress on working Americans.

There was a lapse of 4 months where we did not receive anything from these owners.

Once you are added a mortgagee to the insurance (and you have reviewed the policy to make sure you are ok with the coverage), you will be notified if there is ever a claim made or the insurance lapses.

@JD Martin they had renters insurance, but I think they let it lapse and are expecting to pay for their stuff.This also leads to my next question.

Paying that amount protects them from eviction when pandemic-era protections lapse.

We use Vacasa at our Lake House - they have a local manager who is awesome and we have 2-3 same-day turns per week in the summer, so we can't afford surprises or lapses. 

Forced Placed policies normally refer to a policy, purchased by a lender and charged back to the Mortgage Holder when that holder lapsed coverage.  

I have a section 8 tenant that lost her benefits in May, but housing authority didn't tell us until July (tenant was just telling us her paperwork had lapsed). 

I am 57 years young and getting back into real estate investing, I was a Realtor of 8 years but let my license lapse(going to get it back). 

I am not an economist and have no background in how incentives work but I don't think letting Chapter 313 incentives lapse will take Austin off the table for many companies who see the myriad other benefits the Austin metro offers.