Can my mortgage holder require to be included as a lienholder of my property in my home insurance?
They became a lien holder because you put your property up as collateral for a loan. They HAVE to be listed on your homeowners policy. If there is a claim, all mortgage companies will be listed on the check. It’s not optional. You have to list them. I see second mortgages on polices all the time. The condo policy covers the out side of the unit. Their policy does not cover the interior of the unit and your mortgage company has an interest in that. There is also a good chance that there is language in your mortgage that says you have to list them. So, go ahead an give them your insurance info (agent name, phone and policy number) You can also call the agent and give them the 2nd mortgage co info.
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