 Landlord says he gave me 24 hours notice...? |
| I live in Ontario. My landlord called me a few hours ago and left me a message stating he would be here to give an inspection of my rental unit at 1:00pm tomorrow. I have been out of town, he ... |
|
 Can I drop the offer I've made on a property? |
if we've agreed 150k and my lender is giving me say 95% mtg 142500. Can I then offer say 140k.
PS the mtg has been agreed in writing with valuation of property completed etc.... |
|
 Can farmland be used for other purposes? Where can I find out? |
| I am looking to buy an area of farmland but don't want to farm it, but I do want to use it as a tourist facility.... |
|
 Can my apartment manager lock me out in the state of Texas without taking me to court? |
| i am late with my rent and my apartment manager says she is going to lock me out by way of changing my deadbolt she has not served me with any court date and does not let me know where i can get a ... |
|
 Can liens be factored into a mortgage? |
| ok. So im interested in purchasing this house for a very small amount of money and in exchange pay off the owners back taxes on the property and about 8 grand worth of liens from the city. (for not ... |
|
 Landlord - renters are 40 days overdue on rent.? |
I am a new landlord, and unfortunately live 3000 miles from the house I am renting.
My renters have been late everymonth since I have rented to them. At first it was only a few days, ... |
|
 Will you ask your friend to pay for half of the parking fee? |
| Imagine this. You drive a friend home twice a week from school or work. You only drive them home, but don't take them in the morning. The school parking fee is about $90, so will you ask your ... |
|
 I have a ethics question? |
| My cousin and I got in an argument 6 months ago and haven't talked since. Just recently he started e-mailing me saying he is sorry. Well today I get this phone call from him saying he is ... |
|
| How to get money back? |
| I have a tenant who has been recieving housing benefits and JSA totalling £900+ per month but hasnt been giving me my rent money regularly. the rent is £715 whilst her housing benfits is £710. I ... |
|
 Can you pay rent to your landlord in advance, so you don't have to worry for a few months? |
| Say your rent is $700 a month, can you give them like 3 months rent so you don't have to worry about paying for 3 months?... |
|
 I Lease apartments and I would like to give away some free gifts any suggestions? |
| Our corporate office has assigned 3 units to be our specials for the week and if you sign a one year lease on the day of your move in you will recieve a free Iphone but the problem is that not ... |
|
 Can a prospective Landlord keep a deposit? |
| Can a prospective landlord keep a deposit ($500) used to secure an apartment, if the prospective tenant changes his mind about wanting to rent the apartment (in Ohio)? No lease was signed, only an ... |
|
 Which house do I buy??? |
number 1- is a big white farm house in the country new roof 1010 sq feet good circuit breaker with new gas stove in kitchen and nice carpet just needs some cleaning
with an upstairs. new garage ... |
|
 How do i get a mortgage? |
| will be my first time but not sure how to go about it any advice ... |
|
 Financing a house? |
| Is there any way around bad credit to finance a house? We are now a family of four with only 2 bedrooms and my kids are boy/girl so they don't need to share a room forever. We are talking about ... |
|
|  |
zhl2o3 | Does my mortgage company have the right to insist that I buy home insurance for the entire loan amount? |
1. I am paying 20% for down payment.
2. I am already insuring a little higher than the “replacement cost-New” amount in the appraisal report.
However, my mortgage company said we need to insure for the entire loan amount. Do they have the right to do this? My insurance company said we would be over insuring and they’re not willing to insure this amount, and they told me to go to other insurance company. Plus, I can’t afford to over insure. This is the only issue left before the Closing. I already contacted my mortgage person via email but I want to hear what you say. Thanks.
|
 |
 
Lisa L
|
Most of these answers are correct. If you have full replacement value, that should suffice. Even if the house burns to the ground the land will still have value. Your #2 may be what is confusing the issue. The loan amount is what the mortgage company is concerned with. Full replacement means the insurance company will replace (rebuild) your home with something at least equal to what is there. |
|
golferwhoworks
 |
if you have guaranteed replacement cost that is all that is needed |
|
itsjustme
 |
It sounds to me like you need to postpone the closing and find a different, reputable mortgage company. When we bought our home, six years ago, all the mortgage company required was replacement cost new. |
|
mortgage underwriter
|
The bank has a right to insure their assets are protected. The bank needs to be insured in case of fire or any other hazard. The insurance must be guarantee replacement or the loan amount.
Contact the funding manager, he or she can look at your dec page and approve the transaction. |
|
ket
 |
Generally, someone loaning you money has the right to ask just about anything they want of you (within reason. Obviously they can't ask you for your first child, or something stupid). That's why there are more than one mortgage companies. If you don't like their terms, you have the right to shop around. And find one that isn't asking you to insure the whole amount, if you can find it. |
|
Robert S
|
They are trying to protect their ASSets.
Replacement cost is all you need, the land won't burn down. |
|
Big G
|
The mortgage company isn't lending the appraisal amount, they are lending the Loan amount.
They have every right to insist you insure the entire Loan amount, so they are covered for the loan amount in case of total destruction of the home.
The amount you should really insure is replacement cost of the purchase price of the home to cover your 20% down payment. |
|
Ed Atun
|
If you put 50 percent down, they will require insurance on 50 percent of the value. If the house burns down, they get paid first. / |
|
lafayette
 |
It's called PMI. Insurance companies normally require you to carry this until your loan amount to date is less than 80% of the home value. If you purchased a home for $100,000 but you only put down 10% which brings your actual loan to $90,000 you have to continue to carry PMI until your loan amount is $80,000 or less. Keep in mind that if you purchased it for 100K and it appraises for 120K then you shouldn't have to carry it. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 21 minutes(s) ago
| | | |
10 | 29 minutes(s) ago
| | | |
10 | 33 minutes(s) ago
| | | |
8 | 2 hour(s) ago
| | | |
10 | 3 hour(s) ago
| | | |
10 | 5 hour(s) ago
| | | |
10 | 7 hour(s) ago
| | | |
10 | 8 hour(s) ago
| | | |
10 | 10 hour(s) ago
| | | |
10 | 1 day(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
