Owner financing insurance-

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PostPosted: Tue Jan 27, 2009 8:11 pm   Post subject: Owner financing insurance-  

Owner wants to finance 35%( $440,000) to buyer for his 2nd home. Owner( lender ) wants security in case of buyers foreclosure. Can buyer purchase PMI for loan amount ?

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PostPosted: Wed Jan 28, 2009 6:27 am   Post subject:   

Since you are the buyer the mortgage lender would require you to purchase PMI in order to safeguard the interest of the lender. If the owner of the house wishes to share the cost of the policy, he can do that.


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roadablaze
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PostPosted: Wed Jan 28, 2009 7:10 am   Post subject:   

Hi, I'm not sure if the owner can sell the property with an existing loan on it. Owner financing can be done only when the property is clean and clear. Is there an existing mortgage on the property or you are taking a mortgage from the owner to acquire it? If you are taking out the mortgage, you would be able to get the private mortgage on it as well.


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PostPosted: Mon Jan 14, 2013 3:39 am   Post subject: insurance for owner finance home  

I am financing a home and want to be sure it is insured properly.....How best to arrange for them to have home owners policy listing me as lienholder/mortgaree etc?...

.....Is it practical for me to pay for the policy and charge them monthly ....?? I wonder how it would work if home is destroyed..? ?how to settle the insurance payment, etc?

.............I really need advice.. thank you


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PostPosted: Thu Aug 08, 2019 2:52 am   Post subject:   

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talking to the 5 live Investigates programme, Jean recalled how Alex's requests for money began to snowball: "It went all night. I kept helping him and his son with some other things domestic bills, School fees and conditions like that,



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Jean is not alone and is one of a rising number of women to fall victim to the form of online dating fraud, Where the scammer poses as a US soldier they will say they're stationed at a US base in the UK, To inspire hope that a understanding is possible.



The wool spun by "Alex" empty by his wife; Single father the kind of one. A desperate get money is inevitable.



They will sometimes use the names of real American soldiers including those killed in action and steal photos from military websites or the social media profiles of real soldiers to make their own dating profiles appear for sure.



This US soldier in distress online dating con has come to the attention of nation Embassy in London.



Scam growing



talking to the BBC, Consul General Derwood Staeben said people contacting the embassy to report dating fraud was now a daily existence:



"When I reached my post two years ago, there have been two or three a week.



Rebecca not her real name will be victim who was sweet talked by a fake soldier named "Charlie, She will not reveal what amount of cash she has lost but says she is in a lot of debt as a result of the scam.



They take weeks in my case, Months in order to develop trust, Asking you about your and life, And making you feel loved"Rebecca, client of dating fraud



states she fears opening her mail, Or giving an answer her phone, As she doesn't discover how to repay the money she borrowed to lend to Charlie.



Like fellow client Jean, She said the men posing as soldiers really know how to exploit the emotions of the women they hope to con.



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This follows a more elaborate set up, Where the women are asked in order to complete official looking paperwork and send a fee, that they can are told will be refunded.


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