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It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.
If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.
It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.
If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.
It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.
If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.
It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.
If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.
What else can I help you with?
Can you demolish a house that still has a mortgage on it?
Yes, a house with a mortgage can be demolished, but the mortgage would still need to be paid off even if the house is destroyed.
Is it mandatory to have homeowners insurance after you pay off your house?
No. Unlike auto insurance, homeowners insurance is optional and is not mandatory if your house is paid for. Just keep in mind though, if your home is lost due to fire, tornado, etc., you will not collect any kind of recovery for the loss. Also, without a homeowners insurance policy with liability coverage, you won't be covered for liability damages should someone fall or be injured in some way while at your home.
Have to have to flood insurance if house is paid off?
Yes, you can be required to have flood insurance even if your house is paid off, particularly if it's in a designated flood zone and you previously had a mortgage that mandated it. Lenders typically require flood insurance for homes in high-risk areas to protect their investment. However, if your home is paid off and not in a flood zone, purchasing flood insurance is optional but highly recommended to safeguard against potential losses from flooding.
Mortgage is in your name spouse dies will mortgage life insurance pay off house?
If the mortgage is in your name it would not be affected by the death of your spouse. Mortgage life insurance is coverage that is taken out so that your house would be paid for in the event of your death.
Does homeowners insurance pay off your mortgage if you are sick and dying?
Homeowners insurance does not provide any coverage for paying the mortgage payment - it only covers damages to the house itself. For coverage to pay off the mortgage in case of illness, accident, or death, you need disability coverage and/or life insurance. Disability coverage will generally pay a monthly benefit for as long as you are unable to return to work due to injury or illness, while life insurance pays a lump sum to your beneficiary upon your death.
What happens when your house catches fire and you were planning on filing for chapter 13 Bankruptcy?
Assuming the fire was not set, you should have had insurance. If you had insurance that pays off the mortgage after a fire completely destroys the house, you are OK. If the insurance only pays the fair market value of the house, you will owe a balance. If the house was not completely destroyed, the insurance may pay enough to fix the burned portions. The effect on filing a Chapter 13 depends on possible complicated bankruptcy legal issues, some of which may depend on your state laws regarding homestead. Consult your attorney.
Why was the statue of Zeus destroyed?
it was riened by a fire and sent off to be destroyed by a jealous king.
If owner of a house dies does insurance pays off house?
Only if they had mortgage insurance.
What insurance pays off a house in case of a spouses death?
Credit Life Insurance.
Do you have to have insurance on your home after you pay the loan off?
In the United States, there is no requirement to have house insurance. However, most banks and lending institutions require you to have insurance while there is an outstanding mortgage on the house. Once you have finished paying off the house, you don't have to maintain the insurance. However, it is a good idea to continue the insurance plan if you can afford it. Without insurance, if your house burns to the ground, you are left with no place to live and no money to purchase or rebuild.
What happens when a boat is written off by an insurance company?
When a boat is written off, it becomes salvaged, usually it is destroyed to prevent further liability.
How can I turn off a fire alarm in my house?
To turn off a fire alarm in your house, locate the alarm and press the reset button or remove the batteries. Make sure to address any potential fire hazards before turning off the alarm.
What happened to the statue of Zeus?
Nobody is really sure what happened to the statue, some say it was carried off to Constantinople, where it was destroyed in a fire in 475AD. Others say it was destroyed when the temple in which it sat was destroyed in 425AD.
Can you demolish a house that still has a mortgage on it?
Yes, a house with a mortgage can be demolished, but the mortgage would still need to be paid off even if the house is destroyed.
How much does the agent make off house insurance?
Typically 10% commission.
What warns people of a fire in their house?
The smoke/fire alarm will go off or you will see smoke. You could also see the fire.
Is it mandatory to have homeowners insurance after you pay off your house?
No. Unlike auto insurance, homeowners insurance is optional and is not mandatory if your house is paid for. Just keep in mind though, if your home is lost due to fire, tornado, etc., you will not collect any kind of recovery for the loss. Also, without a homeowners insurance policy with liability coverage, you won't be covered for liability damages should someone fall or be injured in some way while at your home.
