Updated 23 days ago on . Most recent reply
Insurance problems with price and name of insured.
I have been booted from Citizens with a property now they are saying I have to have the policy rewritten under the deeded name on record. As of right now it's my LLC as the trustee for the home.
The quote has gone from an expected $2900 to $6400. I can’t get the information from the agent as to whether it will be lower if the property was in my name.
My lender has also expressed the reasoning for requiring the property to be insured in my name since that’s who’s name is on the mortgage.
Just wondering if anyone has run into this. Trying to find ideas here. Maybe it can be different if I was a DSCR loan but I've been waiting for lower rates. It's currently at 7.625%