Insurance cancelled after Sub2. - Posted by Michel (tx)

import · October 28, 2001, 2:50am

Posted by Michel (tx) on October 29, 2001 at 16:18:39:

Thanks Bill!

import · October 28, 2001, 2:50am

Posted by Michel (tx) on October 28, 2001 at 03:50:51:

2 weeks ago, I approched you about insurance agent not responding with my request to transfer to Land Trust. Well guess what? Last week, the previous owner received a notification from the insurance that the policy had been amended to include the trustee. They never sent me the notification. Yesterday, I received a letter from the insurance advising me that the policy had been cancelled, without any reason. They gave me 3 days to find another insurance. The seller swears that she never told them about the sale.

Is the normal? Should I be concerned about the DOS? How much time do I have, if loan is called, to come up with full payment?

Thanks!

Michel

import · October 29, 2001, 12:57pm

Re: Insurance cancelled after Sub2. - Posted by Bronchick

Posted by Bronchick on October 29, 2001 at 13:57:45:

If the insurance co doesn’t want to play ball, then get another insurance co to insure it. The lender has not called the loan, they are just requiring insurance.