-
1 month ago | 
wjactv.com | Jean Folger
Key takeawaysThe mortgagee clause is a provision in a homeowners insurance policy that protects the lender from financial loss if the mortgaged property is substantially damaged or destroyed. Many mortgage lenders require borrowers to have a homeowners insurance policy with a mortgagee clause. If your home is damaged or destroyed, you and your lender will both receive a payment from your insurer based on your ownership interest in the home.
-
1 month ago | 
katu.com | Jean Folger
What is a mortgagee clause? by Jean FolgerMon, March 10th 2025 at 2:48 PM10'000 Hours/Getty Images
-
1 month ago | 
klewtv.com | Jean Folger
What is a mortgagee clause? by Jean FolgerMon, March 10th 2025 at 2:48 PM10'000 Hours/Getty Images
-
1 month ago | 
komonews.com | Jean Folger
Key takeawaysThe mortgagee clause is a provision in a homeowners insurance policy that protects the lender from financial loss if the mortgaged property is substantially damaged or destroyed. Many mortgage lenders require borrowers to have a homeowners insurance policy with a mortgagee clause. If your home is damaged or destroyed, you and your lender will both receive a payment from your insurer based on your ownership interest in the home.
-
1 month ago | 
mynbc15.com | Jean Folger
Key takeawaysPrivate mortgage lenders are individuals or companies that offer real estate-secured loans outside traditional banks. They use their own funds or investor capital and offer flexible terms for borrowers with non-traditional incomes. Private mortgage loans require repayment with interest but allow alternative income sources, offer diverse financing options and may be securitized by investment firms.
-
1 month ago | 
idahonews.com | Jean Folger
Key takeawaysThe mortgagee clause is a provision in a homeowners insurance policy that protects the lender from financial loss if the mortgaged property is substantially damaged or destroyed. Many mortgage lenders require borrowers to have a homeowners insurance policy with a mortgagee clause. If your home is damaged or destroyed, you and your lender will both receive a payment from your insurer based on your ownership interest in the home.
-
Jan 19, 2025 | 
businessandamerica.com | Jean Folger
A home sale contingency is a clause that is often included in a real estate sales contract or anoffer to purchase real estate. With a home sale contingency in place, the transaction is contingent on the sale of the buyer’s home. If the buyer’s house sells by the date specified, the contract moves forward. If it doesn’t, the contract is terminated. Here, we take a look at what buyers and sellers need to know about home sale contingencies.
-
Jan 18, 2025 | 
businessandamerica.com | Jean Folger
Whether you’re buying an investment property, and even when you’re buying a primary residence, there may be occupants already in place. In either case, you need to know the responsibilities and the potential risks you’re taking on. If there’s a lease in place, you’ve just become a landlord. If it’s a foreclosure sale, you’re obligated to follow the state laws that protect the former owners.
-
Jan 14, 2025 | 
businessandamerica.com | Jean Folger
A growing number of American retirees are choosing to move abroad after leaving the workforce. In fact, the number of beneficiaries collecting Social Security payments while living abroad increased from around 500,000 in 2016 to 760,000 in 2024. Granted, not all of those beneficiaries are retirees. The Social Security Administration (SSA) provides benefits to disabled workers and surviving dependents of retirees, as well as folks who’ve left the workforce at the end of their careers.
-
Jan 12, 2025 | 
businessandamerica.com | Jean Folger
A reverse mortgage could provide much-needed cash to cover costs such as basic living expenses, medical care, and home repairs. Still, numerous fees can make reverse mortgages prohibitively expensive for some homeowners. One particularly onerous expense is the lender-required mortgage insurance premium (MIP). If you have a home equity conversion mortgage (HECM)—which is backed by the federal government—then you’ll pay an initial MIP at closing plus annual MIPs for the length of the loan.
