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Answered 2004-06-03 12:06:24

Yes, that can be considered "HIDING" and as you may know, that is against the law in CA. Call the lender today and tell them your new add. Good Luck

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What if someone hit you would the lender of your car pay for the damages if you had no insurance?


How does one end Private Mortgage Insurance?

Contact your lender or the insurance company listed on the policy.Contact your lender or the insurance company listed on the policy.Contact your lender or the insurance company listed on the policy.Contact your lender or the insurance company listed on the policy.

What if you don't have insurance?

If the law requires you to have insurance (Auto Liability) or someone else does (your mortgage company, your auto lender) you could be in hot water if you don't have it. Otherwise, you don't have to have insurance.

Can someone report your car to be repossessed if they know that you do not have insurance?

IF they hate you enough, IF they can find out who your lender is, IF the lender wants to repo because of that fact, The ins. co. is supposed to notify the lender anyway if you let the policy lapse....

Do Mortgage insurance premiums payments have be escrowed by the lender?

Yes, Mortgage Insurance Premiums Payments do have to be es-crowed by the lender.

What is the web address for Wells Fargo Bank Jacksonville Fl 32239-8129?

This appears to be a fake address for a letter stating they have placed lender placed insurance on your home.

Can you transfer a mortgage to another property if one party is now bankrupt?

No. The lender owns the mortgage. You can't make any changes.No. The lender owns the mortgage. You can't make any changes.No. The lender owns the mortgage. You can't make any changes.No. The lender owns the mortgage. You can't make any changes.

What type of insurance should a cosigner obtain on a car?

The insurance reuire by your lender.

Can lender reposses car or lack of insurance?

Yes, if you don't have full coverage insurance the collateral is in jeopardy. In other words if you were to total your car the lender has no collateral.

How much does a lender charge for insurance?

The amount of insurance you will pay depends on a variety of factors. The lender will look at your driving history, credit score, and area you live in to determine your rate.

Can your car be repossessed if your insurance incorrectly told the lender your policy had been cancelled?

IF the ins. co. told the lender the policy was canceled, then you were in DEFAULT and the lender will repo.The lender and the ins. co. will have to get that straightened out.

Does Buell require insurance if the bike is financed?

Any lender requires insurance if the vehicle is financed.

Can your car get repossessed if you move and do not notify your lender?

Technically, probably. Your loan contract usually requires you to keep the lender informed about any changes of address, among other things. If you have a history of late or missed payments, they would be especially concerned.

What should you do if the lender obtained a judgment to repossess your motorcycle eight months ago and they have yet to pick up the motorcycle and you are in Wisconsin and the lender is in Texas?

Nothing..... it is the responiblty of the lender to arrange someone in your state to repo the bike (or car). Keep your insurance on the bike just in case something happens to it in the meantime.

What are the advantages of home insurance for the the lender and the economy?

many people thier houses will be covered by insurance company

Which is not usually required by the lender when you apply for a home mortgage?

Renters Insurance.

What does PMI stand for when referring to insurance?

With regards to insurance, the acronym PMI stands for Private Mortgage Insurance. This is an insurace where the borrower of a mortgage pays a premium, but if the borrower defaults, the lender gets the money. This helps protect the lender in cases of larger mortgage values.

If your house is forclosed on are you still responsible for keeping insurance on it? This article says: The lender is on the hook. When people are making their monthly mortgage payments, very often the insurance premium is wrapped into that payment. But when the homeowner stops making payments, those insurance premiums aren't being paid. When a property goes into foreclosure, the lender or bank is notified that those insurance payments become their responsibility. Question: So, at what point is the lender on the hook in the foreclosure process? Answer: It depends on the situation and when the lender is given a notice, but generally the lender has time to arrange insurance. It is possible some lenders weren't covered, but it's unlikely.

Is mortgage insurance optional?

no. If you have a loan greater than 80% of the value of the home and the lender requires mortgage insurance, then it is not optional.

What are prohibited practices under FHA regulations?

Lender requires title insurance

Will refinancing your mortgage remove the mortgage insurance from your loan?

Actually, you may not have to go as far as refinancing to remove the mortgage insurance. If you have paid down the principle and have equity, you may have reached the percentage where your lender does not require mortgage insurance. Check with your lender and read your note to see where you stand.

Where do you find the best prices on mortgage insurance?

Do you have another life insurance of sufficient amount to cover mortgage, then you do not need extra mortgage insurance. Any way it is also a simple life insurance policy, just named differently to get more business. It is not essential. Life insurance is not private mortgage insurance (PMI) PMI covers the lender if you default on the loan. Basically you are paying for insurance for the lender. Once the loan is 80% or below the property value the lender will usually cancel the requirement for PMI. You do have the right you choose your own private mortgage insurer, as long as they are approved to do business with your lender. You can ask your lender for the premiums of each of their carriers and decide for yourself which you want to use. The prices from various carriers are virtually the same for borrowers with good credit, however if you have poor credit the rates can vary widely and it is worth your time to as the question.

What is the lowest amount of individual property insurance coverage that I can have when I own a home?

The lowest amount of individual property insurance that you can have on your home is the amount outstanding on your mortgage. Your mortgage lender will require that insurance be in force for the amount you owe them or more. That way in case of a total loss, the lender recoups its losses.

When purchasing a home or condo in Florida are you required to get life insurance if it's financed through a bank?

Your lender may require insurance to insure that in case of your death, the mortgage is paid. Your lender can explain this requirement to you given your specific situation.

Is it possible to transfer car finance to someone else?

Yes, if the lender holding the lien agrees. Talk to the lender.