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What is REO Builders Risk Insurance?

April 26, 2017builders Insurance REO risk

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What is REO Builders Risk Insurance?

1 Answer

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10 Posted

REO Builders Risk Insurance is an automated insurance program designed to cover partially completed homes that are Real Estate Owned (REO) by a lender following foreclosure. Many lender-owned REO blanket property insurance policies will not provide coverage for a partially completed home. REO Builders Risk Insurance is tailored builders risk insurance coverage that will provide comprehensive coverage, including theft and vandalism on partially completed homes. The coverage is provided up to 6 months to allow the lender time to consider their options and to initiate a workout plan for the property.