0
Do you have to keep insurance on your house even if you are not making payments on it?
Wiki User
∙ 13y ago
Yes, if you wish to stay protected, however, it also depends on why your not paying your payments. If you are defaulting on your mortgage, insurance could be cancelled once the bank takes the possession from you. You would then not be responsible for the insurance any longer, and frankly, if the house burned down, it would be no loss to you. That is the real gauge, what do you stand to lose if the house burned to the ground. If nothing, then insurance is not needed. If you would lose anything at all, that's what insurance is for.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
If you cosign for a student loan does it show up on your credit report before or after the student starts making payments?
It shows on your credit report even before they start making payments.
Does a co-signer have legal rights to a vehicle if they have been making the payments?
Depeding on how the vehicle is titled you may have legal rights to the vehicle even if you aren't making the payments. However, in order to just get it titled in your name then you will need their consent if it's currently titled in both of your names. Very simple answer to all these questions. If your name is on the title, you can have the car. If your name is on the loan, you can make the payments. WHAT if BOTH names on tittle, reg and insurance, one is making payments but other is the strong credit that got bike and wants it back
Who can apply for HMO insurance?
Anyone who can afford the payments can apply for HMO insurance. Many people can apply for HMO insurance through their employer. People can even get HMO insurance themselves and be self-insured.
Can they repossess your car even if you have been making all the payments?
They can only LEGALLY repo your car IF you are in DEFAULT of the contract. That could be no payments, no insurance, using the car for an illegal purpose, ect. Is there any requirements in your contract that you may have not met? If you are NOT in default of the contract, call an attorney NOW. Good Luck
Are house rental payments tax deductible?
No, sorry. That's why owning a house is better for tax purposes but even then the principal payments are not deductible, only the interest on each one added over the whole year.
Can you cancel you home insurance and get new insurance even if you have only just purchased your house?
Yes, you can change insurance companies anytime you want.
What type of products are offered by CRM insurance?
CRM insurance offers many insurance policies on a variety of things such as car insurance, house insurance, they even provide life insurance for your family.
If you make double payments for a year for the next year will you be required to make normal payments or can you get away with making no payments until the 3rd year?
You cannot skip a year even if you made double payments for the first year, the bank considers those payments extra and hopefully you made sure the payments went to the principle, not the interest.
Why don't homeowners like obtaining empty house insurance?
Homeowners do not like obtaining empty house insurance because they have to pay extra money even though they are not living there. This insurance is useful in protection against vandals and accidents.
Can you lose your house to settle unpaid medical bills?
Yes. That's why Insurance is a good idea. Even if you get Medicaid, at death they can get your house.
How can erosion impact a house on a floodplain by a river?
A flood may cause damage to the house's interior, destroy furniture, and leave behind a stinking, muddy mess (possibly contaminated with sewerage). In extreme cases, it could even undermine the house's foundations, making the house unsafe. If such a flood has happened before, house insurance may be impossible to get, or very expensive.
What is a waiver of insurance policy?
I believe you are asking about waiver of insurance policy premium. There are certain insurance policies like children's plans, where even if the policy holder (Parent) is no more, the insurance company would waive off the premium payments and continue to provide the benefits to the policy beneficiaries (Children)
