The absence of a comprehensive and coordinated plan allowed the Committee to mismanage and ultimately lose $2.7 billion in bond resources with little scrutiny, a loss that the Committee failed to publicly disclose and struggled to explain, the California State Auditor writes in a blistering new report.

Continuation of the coverage of an existing title policy after a conveyance of the property to a third party is controlled by the definition of Insured as written in the Conditions section of the existing policy. 

Full replacement vs cash value, basic coverage vs extended coverage, etc. 

Outside of that, there is no loan that could work for you due to the fact that you will owner occupy the home.If it were non-owner occupied, you could do a DSCR loan, or a Debt Service Coverage Ratio loan.

Cash out refi or commercial line of credit as long as your DSCR (Debt Service Coverage Ratio) is satisfactory to the bank - this is typically ~1.20

Hi, first time posting and working on my 2nd investment property (townhouse) and here's the catch:- Current policy ~1900US vs Citizens (~1,000)- Both DP3, same coverage I keep hearing horror stories about Citizens when you file a claim or when they audit your insurance, they may bump the price up, etc Any real life experience with them?

@Shira Laux Definitely do your zone check first, then do a dep dive into the zoning ordinance for allowable height, stories, density, lot coverage, etc.

It's best to have a comprehensive understanding of your situation before you are ready to buy. 

The deal looks poor to me, but could you provide a more comprehensive list of expenses?

Its a no income verification program designed for non owner occupied 1-4 unit properties and here's the kicker... we completely ignore debt coverage(DSCR), negative cash flow is not an issue as long as the property is leased and in good operating condition.