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rileysmama
needing a vacation..!
Member since 10/09 2162 total posts
Name:
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Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
TiA
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Posted 5/20/10 11:16 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
july4mrsO
Happy boy!
Member since 5/10 2867 total posts
Name:
Jess
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yep! we put ours on a credit card prior to closing. i think most mortgages require you to pay it in advance.
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| Posted 5/20/10 11:24 PM |
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SummerMom
Now a mom of 2!
Member since 6/07 4970 total posts
Name:
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
Definitely.
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| Posted 5/20/10 11:33 PM |
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Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
Yes, you must show a binder at the closing that states it's paid in full.
After the year, it will be included in your Mtge payment if you are going to escrow.
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| Posted 5/21/10 9:17 AM |
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NoStressMom
My Heart and Soul
Member since 5/05 11122 total posts
Name:
D
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yup we just did it
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| Posted 5/21/10 9:17 AM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yes
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| Posted 5/21/10 9:24 AM |
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nicrae
He's here!
Member since 12/06 9289 total posts
Name:
Mommy
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yes
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| Posted 5/21/10 10:16 AM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yes
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| Posted 5/21/10 10:28 AM |
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MrsFrizzle
<3
Member since 9/09 4628 total posts
Name:
Kristin
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yup
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| Posted 5/21/10 10:36 AM |
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momma2b
Princess is here!
Member since 8/08 1386 total posts
Name:
Mommy
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yes
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| Posted 5/21/10 11:36 AM |
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KLSbear
LIF Adult
Member since 1/06 1908 total posts
Name:
Karen
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
Yes and no - we had a long standing relationship with the broker from some business and renters insurance, going back several years with good payment history, so they gave us the required letter saying the insurance was covered but they let us pay them monthly.
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| Posted 5/21/10 1:41 PM |
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METLove2008
LIF Adolescent
Member since 5/08 541 total posts
Name:
Ellie
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yes, they told us it was a requirement of the mortgage company.
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| Posted 5/21/10 4:46 PM |
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Cpt2007
A new love!
Member since 1/08 5946 total posts
Name:
Liz
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yup.
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| Posted 5/21/10 4:57 PM |
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Xelindrya
Mommy's little YouTube Star!
Member since 8/05 14470 total posts
Name:
Veronica
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yes, its included in my closing cost but the ins company sends the binder over without payment since I've got an existing renter's policy with them.
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| Posted 5/21/10 5:15 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
yes
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| Posted 5/21/10 5:31 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19454 total posts
Name:
L
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
Yes.
As an aside, my neighbors behind me purchased their home and someone (not sure who) said don't worry, you don't have to have insurance after you close. Well 8 DAYS after they purchased their home it went up in flames. It had all of their shower presents inside. Thankfully they got out alive. Their cat did not make it. The house was burned to the ground because of the negligence of our other neighbor. It took 2 years to rebuild the house. They did not have insurance. Since this is a planned community, the house was re-built to speck, but no upgrades. All of the new upgrades cost out of pocket for them. Moral of the story get insurance.
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| Posted 5/21/10 7:14 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
Posted by LSP2005
Yes.
As an aside, my neighbors behind me purchased their home and someone (not sure who) said don't worry, you don't have to have insurance after you close. Well 8 DAYS after they purchased their home it went up in flames. It had all of their shower presents inside. Thankfully they got out alive. Their cat did not make it. The house was burned to the ground because of the negligence of our other neighbor. It took 2 years to rebuild the house. They did not have insurance. Since this is a planned community, the house was re-built to speck, but no upgrades. All of the new upgrades cost out of pocket for them. Moral of the story get insurance.
Wow that is terrble for your neighbors.
I'm pretty sure though you can't get the mortgage without insurance already in place though - at least thats what i was told.
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| Posted 5/21/10 10:39 PM |
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jen919ifer
LIF Adolescent
Member since 7/08 803 total posts
Name:
Jennifer
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Re: Did you have to pay for your homeowners insurance for a year upfront when you bought your home?
The only way they wouldn't have to have the insurance is if they didn't have a mortgage, it's the lender who requires it.
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| Posted 5/22/10 10:41 AM |
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