NLIC.org

Francisco Said:

Please reference the FL law preventing release of info to parties not listed on a homeowners policy.?

We Answered:

Yes, there are Federal and State privacy laws in place.

http://www.bbbonline.org/UnderstandingPr…

is a place to see them.

Lonnie Said:

Insurance claim question?

We Answered:

First, you did nothing wrong. Second, you are NOT required to hand those claim papers over, BUT, be aware that when the buyer goes to get HIS insurance on the house, YOUR CLAIM will be reported to his new carrier, and they might likely refuse to insure the house for him, without that information.

That means, the sale will fall through.

When they DO look at those papers, they'll see that the roof was NOT totally replaced - meaning, the new insurance company will require, most likely, the new buyer to do that work, within 30 days of closing - or refuse to write their insurance. That means, the sale might fall through, OR, your selling price will be reduced by the cost to replace the roof.

The problem is, insurance companies all share claims info. And if the new buyer is going to have a mortgage, then they'll NEED insurance, and the new insurance company is going to want all the damages that were PAID for, to be DONE, regardless of which insurance company it is.

Advice: I think you're going to have to lower that selling price at the closing, by the estimated cost of all those repairs.

Louise Said:

Working with my mortgage company to temporarily reduce my payment?

We Answered:

Basically your lender needs proof of your hardship so they can determine how much you can afford to pay. They don't want you to estimate this. They want to figure it out for themselves. So they need to know some very personal and sensitive information from you.

Check out the source link I posted below where you can seek additional guidance. Good luck.

Marian Said:

Can I have 2 mortgagees listed on my homeowners insurance?

We Answered:

Yes, you have a first mortgagee, and a second. I've actually written a few policies with FOUR mortgagees listed. It's not horribly unusual to see three, and two are actually pretty common.

Wendy Said:

I'm trying to determine if there really is a vocation in documenting the condition of property that is?

We Answered:

Yea it's called being a surveyor! and you need to be qualified! otherwise it won't be taken seriously...welcome to life!