All Forum Posts by: Account Closed

My exposure to REITs are held within Vanguard Total Stock Market Index Fund (VTSAX).

I actually had a call with this company, but did a little research and found too many negative reviews.  I'm sorry some of you had a horrible experience with this company.  

Here are two screengrabs I took while watching a discussion with Jay Papasan on YouTube.  Many of you may find this helpful.  

You can watch the full interview here: https://www.youtube.com/watch?v=Kv4ZbbEx5rI

@Amanda McAvena - I am in Brooklyn too.  I would love to know why you chose Hudson, NY.  

Update:  

I finally found a insurance company that should work with the lender through closing.

@Jason Bott - I will likely use this strategy if there are no cancellation fees, etc.   

Thank you all for the input. Working with a REI friendly lender is key! Lesson learned.

@Chris Clothier - This is exactly the situation.  My lender is BancorpSouth in Little Rock, AR.  Up until now, everything has been a smooth ride.  In the future I will definitely work with a lender who is willing to accept this setup.  For now, I may have to pay a higher premium to get this deal done.  Do you know of any insurance companies that may have a solution?

@Wayne Brooks

I am purchasing the home and insurance under my personal name.  The name listed on the evidence of record (proof of insurance that the lender needs to process the loan) is my name.  

I am assuming Affinity Insurance Marketing LLC is something on the National Real Estate Insurance Group side that has nothing to do with me. In the end, the policy is in my name and I am insured.

This is the last hick up that is preventing me from closing on the property.  

This is my first time dealing with a mortgage company and I believe they are getting hung up on a sentence in the evidence of record that states, "Group policy issued to Affinity Insurance Marketing LLC..." But, my name clearly is listed as Insured Person on the evidence of record.  Very frustrating...  

@Wayne Brooks - Correct.  The policy will be held in my name.  For some reason the mortgage company has a problem with the group policies and anyone else's name on it.  

I am in the process of closing on a turnkey property and now I am having trouble obtaining homeowner insurance.  I am receiving pushback from the mortgage company and they are requesting that my name is the only name on the policy with no other "groups."  For example - they do not accept the insurance policy that the turnkey company holds?  I even went to the National Real Estate Insurance Group and the mortgage company will not accept their policy.  Has anyone ever dealt with this?  Any solutions?