If the insurance is not escrowed with payments, just cancel the old, and get a new, as described above.As long as the asset/colllateral for the mortgage is insured, the lender is protected, they don't care what company you use, or who holds the title, especially if its in a trust.As long as the house is insured, payments are current, you'll have no issues.Sadly, many people THINK changing insurance causes issues with the lender and the title change.However, after YEARS of subject to investing myself, as well as thousands of discussions about this method, I have yet to have a single person back up that claim with proof.Besides, bottom line, at the moment, lenders have other issues more pressing than messing with a PERFORMING account/loan.When you get new insurance, make sure its fire and hazard, and includes liability, rental dwelling/non-owner occupied.

Please allow me to apologize ahead of time if I have put this in the wrong location.I have an opportunity to purchase non-performing notes.

I want to start wholesaling but I have a couple of questions.When I'm performing a double closing are there any issues with the title of the property when the end buyer's lender see that the property changed hands the same day?

Any advise??

The new lender did some sort of review on the new appraisal, and wanted info about what rehab had been performed.

There are so many circumstances here that are not well defined.Even with what I think you are trying to say, I would assume that only a qualified attorney should be advising you on this situation.To be honest, this is a situation that is probably beyond the scope of anybody on a message board.Sorry to be so frank and unable to help, but I just want you to do what is best for your situation, and do not want to see you getting the wrong advice from people.

I did it with a performing rental property that brought in a check every month.

Thanks everyone for your help and advise!!!

The agent can advise his client, based on what information he is given, on specific wording that may or may not include coverage for a claim.

+1Can't believe that a lender will call a performing note due in this climate.