Real Estate Investing!

insurance and peformance mortgage - http://www.dealmakerscafe.com Forums

Original message

Steve

"insurance and peformance mortgage" , Sun 4 Feb 08:46

Chan, if I have performance mortgage recorded at the courthouse, could I get insurance as a lender? This seems to work logically for me. (the performance mortgage would be from the seller to me.)- Steve

Replies:

chan lipscomb

"Re(1):insurance and peformance mortgage" , Sun 11 Feb 14:41

you may have the same rights as a lender, but you have more exposure. lenders have no liablility, but if you are leasing (say in a sandwich position), you DO have liability. you need proper coverage to protect yourself.

sorry so long replying, just got back from a ski trip.

chan

Lynn
Moderator

"Re(2):insurance and peformance mortgage" , Sun 11 Feb 20:49

Yes you do have more exposure, but take note that this exposure is created by your lease or ownership in the property, not by the performance mortgage.

Definitely have proper insurance in place!

Happy Investing!
Lynn

Knowledge is important but all the knowledge in the world is worthless without action! How many offers did "you" make today?

Lynn
Moderator

"Re(1):insurance and peformance mortgage" , Sun 4 Feb 09:45

Yes, you have the same rights as a lender.

Happy Investing!
Lynn

Knowledge is important but all the knowledge in the world is worthless without action! How many offers did "you" make today?

Steve

"Re(2):insurance and peformance mortgage" , Sun 4 Feb 12:08

sweet!!!!! - Steve