No matter how much time it saves you.
Your lender is not a good neighbor when it comes to insurance.
When your insurance lapses
Somehow my client let her homeowners insurance lapse. She wasn’t worried about it, she told me, because the mortgage lender had gotten insurance on her home.
She was content, she said, to let the lender take care of that complication in her life.
Only the complication wasn’t being “taken care of” because the lender’s force-placed insurance didn’t protect my client or her interest in her home. [Read more…]