Homeowners Policy??? - Posted by JohnBoy
Posted by JohnBoy on October 16, 1998 at 15:03:54:
How do you get around the home owners policy issue without the lender being notified?
I was talking to my agent about this today. He said you have to be occupying the property in order to keep your home owners policy. If you move out of the property and rent it or l/o it you would need to change the policy to a fire/hazard policy. This would require them to send a new policy to the lender that would tip them off you are no longer occupying the property and trigger the “due on sale” clause.
My agent said if I left the homeowners policy on the property and if their was a fire or something they could deny the claim since you were not occupying the property.
How do you get around this and still keep your property insured??