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Homeowners insurance-after the 1st year
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Homeowners insurance-after the 1st year
So I got my renewal letter for our homeowner's insurance, and it says it was billed to the mortgagee. Then on the back, it says the mortgagee is Wells Fargo.
Is this normal that my homeowners will now be billed out of Wells Fargo? Will the amount be charged to me in one amount, or divided by 12?
Just figured I'd ask here before I call if someone knew.
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Posted 9/17/09 10:09 AM  |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: Homeowners insurance-after the 1st year
you pay the first year up front, then escrow for the rest of the years you have a mortgage. iit's split into 12 payments, it's built into your payment.
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| Posted 9/17/09 10:11 AM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Homeowners insurance-after the 1st year
Posted by rkoenke
you pay the first year up front, then escrow for the rest of the years you have a mortgage. iit's split into 12 payments, it's built into your payment.
Fantastic!!!!!!! That means I don't have to come up with that money all at once!!! yay! TY!
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| Posted 9/17/09 10:12 AM |
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TreAnt427
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Member since 8/06 8652 total posts
Name:
Tracy
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Re: Homeowners insurance-after the 1st year
Yes - our year was just up, so we no longer have to pay the insurance ourselves.
And the best part was they over estimated the escrow so we got a check back for $1000! 
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| Posted 9/17/09 10:34 AM |
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