 My neighbor is selling his home for an extremely low price do I have recourse? |
| My neighbor and I both bought our home about 4 years ago. Both of our homes are fairly identical they are the same size both built in 1949 the only major difference is they have a porch and I have a ... |
|
 Having trouble getting deposit back for rented property? |
| My friend is moving out of rented property as the landlord has sold the property. She has had to find another property to move into, but has now been told that she won't get her deposit back for ... |
|
 Is the realestate market dropping? I want to buy a home, should I wait? |
| Where can I find motivated sellers, not sellers who are just testing the waters to see what they can get for their home. I want to find a Good Deal! Maybe a homeowner who is in process of foreclosure ... |
|
 Whats the best way to sell my house quickly? |
| The red letters are coming more often, think we are gonna have to rent again but would like to move fast! Any tips for a quick turnaround would be great!... |
|
 How can I get my deposit back from my old landlord? It has being 5 month already that I left his house? |
| and how can I complain about the fact that the house heating didn't work, what made me and the next tenant endure a lot hardship ?... |
|
 Landlord took my belongings then served a 3 day notice wont return my stuff unless i move out? |
| land lord removed my garage door claiming to fix it ,it wasnt broken ,and took all my tools 10,000,00 dollars worth , and never replaced the garage door then served me with a 3 day notice 2 weeks ... |
|
 What is the current valuation of my house? |
| 10033 S 46th Street, Phoenix, AZ 85044... |
|
 Can my homeowners association dictate what I can add to my property? |
| I moved here (rural Arkansas) five years ago. I have never signed (nor have I even seen) any covenant, by-laws, or other agreements. Now the HOA for my street is objecting to the garage that I am ... |
|
 We are currently trying to sell our house, it has been on the market for about 2 months.....? |
| We have showings all the time but just no offers! We have recently lowered the price, we have painted, updated the house although its like new, cleaned carpets, we have really tried everything! S... |
|
 Can a landlord install used appliances when new ones were promised? |
| I signed my lease w/o appliances installed yet. I was told new ones were going in, and still have the advertisement that says "New Appliances". Instead I got old dirty ones that clash with ... |
|
 What happens when you break your lease and don't pay? |
| I am breaking my lease at my apartment complex. I gave a 60 day notice and I am paying the rent until my very last day. But they are also charging me another move out fee of $865.00. What happens if I... |
|
 What would you do if you had 86,000 dollars? |
| I am thinking of buying a house, as in putting about 60,000 down and using the rest for time beings mortgage.... |
|
 Is there a reverse mortgage available for people less than 62 years old? |
| I am a US homeowner. Instead of refinancing, I wanted to explore the possibility of a reverse mortgage.All I have seen so far is that this is only good for homeowners aged 62 or more. Is there a ... |
|
 Does anyone know if it's legal to sell a house with graves under it? |
real estate listing w/ no mention of the graves:
http://www.lowcountryhom... |
|
|  |
trinam04 | Do you have to have home owners insurance to own a house? |
|
 |
 
jennyvee413
 |
You don't have to have homeowners insurance to own a home. Now if you have a morgage on your home they may request for you to have a home owners policy or a dwelling policy. In that case if you don't get your own they may add it to your account and have it escrowed. The difference between these two policies is that a homeowners will cover you for the structure of the home, for theft and liability. A dwelling policy will only cover the structure of the home in case of a fire. |
|
shaundy1714
 |
You have to have it buy the time of settlement on the purchase of a new home. |
|
Karen R
|
Only if you have it financed. If you don't have a mortgage you don't have to have insurance. But why wouldn't you? |
|
Nikolas S
|
You don't have to have it but it is strongly recommended! |
|
mikeyc06010
|
You do not NEED home insurance to own a home. But if the home is financed the mortgage company will require home insurance and will most likely put the payment right in with your mortagge payment. |
|
Justin
|
Only if you have a mortgage on the home. Lenders require that you have homeowners insurance to cover their loan amount. |
|
elaeblue
|
Not if you own it, but if you have a mortgage then yes because the mortgage company requires it. |
|
barrettins
|
I suppose no would be a technically correct answer as there is no law requiring you to have HO insurance that I know of. Having said that I must point out that any lender loaning money to buy a home will require HO insurance to protect their interest.
You need also to be aware that HOs policies do not cover flood so you may also be required to purchase a separate flood policy. |
|
cloothe
|
As elaeblue says, you need to have at least as much insurance as the amount of your mortgage. But beyond that, you should have enough insurance to rebuild your house if it is damaged in a fire, for example. Most people simply do not have the resources to buy a new house if something happens to theirs. And since they have to have most of the house insured anyway to cover the mortgage, the additional amount to pay their own portion is pretty minor.
Homeowner's insurance also protects you in other ways. If a tree from your property falls on a neighbor's house, you are liable for the damage it causes. Your insurance will pay for that. It will also pay if your dog bites the letter carrier, if a visitor falls on your front step, and even if someone sues you for slander.
Hope this helps. Good luck!! |
|
HMMMMMM
|
No.
But you need insurance to get a mortgage.
Unless you're a cash buyer, no mortgage, no house. |
|
crocadilen
|
Hello,
The only reason you would have to include PMI is if you have a mortage on it and do not own it 100% now if you do have a mortage you are only required to have PMI until you pay off 20% of the loan.
(Private Mortage Insurance) |
|
Kathleen M
|
No you don't have to, but it's not wise to not have it. What if you have a fire or lightening hits the house. Worse yet, what if someone gets hurt on your property and you don't have insurance to pay. You would be personally responsible. I will say, you do have to have insurance if you have a loan on your property, your lender will require it and enforce you having it. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
12 | 40 minutes(s) ago
| | | |
12 | 48 minutes(s) ago
| | | |
12 | 1 hour(s) ago
| | | |
12 | 2 hour(s) ago
| | | |
11 | 7 hour(s) ago
| | | |
12 | 11 hour(s) ago
| | | |
12 | 1 day(s) ago
| | | |
12 | 6 day(s) ago
| | | |
12 | 2 week(s) ago
| | | |
12 | 3 week(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
