What to Do When Borrowers Fail to Comply with Insurance Requirements

By |2023-11-27T13:51:48-06:00November 29th, 2023|Operations|0 Comments

Force-placed insurance is a common solution, but there’s a better approach. To secure a loan, borrowers must have insurance to cover the property. If a borrower does not obtain insurance, lets their insurance lapse, or their coverage is terminated, the lender usually has the right to get insurance to cover the property. This insurance is [...]