Lender Requirement: 100% replacement Cost policy on a reno proper
Hi, I need help finding an insurance agent who will issue a 100% replacement cost home insurance policy. I bought this property and then decided to renovate the whole house so it is currently under construction and obviously vacant. Due to this, I can't get a policy issued that meets the lender's requirement. Without this, the mortgage company will not move forward towards closing. Can anyone help with recommendations or my options as to what I need to do so that I can pull the money out of this property?