Andrew Postell wrote:Just in case, make sure you are also listed in the mortgagee clause in the insurance policy. That way, if there is a claim, you are paid first.
Very good point! I have specific requirements on the insurance (One being that the property is never without it!), I must be listed as primary mortgagee, and bills must be sent to me. I also require I hold escrow funds for insurance, taxes, and HOA dues.
Thanks,
Neil Aggarwal
NSA Partners, Ltd.
