The 85-year-old is easy, it's discrimination and can take the house when they die if their heirs do not pay it off..BUT high-risk areas are another story. It goes up in flames, borrowers walk away from it, it's a total loss of a burnt-out lot.
This explains our hurricane policy http://www.anidjarlevine.com/faqs/why-cant-you-get-homeowners-insurance-during-hurricane-season-in-florida/
Does CA or Western states have a wildfire policy where if a fire is within so many miles they stop writing policies and just stop the loan? If people are fleeing their homes and still doing refi's with their animals and valuables in tow, just curious how this works?
|
