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landlord insurance: Refinancing your Foreclosures - 10/11/07 07:11 PM
I would like to shed some light on refinancing hard money loans.  Hard money loans can have an interest rate ranging from 8% to 22%, so refinancing into a 7% loan can save you interest expense.  Most hard money refinances I see come from the purchases of foreclosure.  Since the future of forclosure investing is strong in most areas it is good to have an exit strategies from a hard money loan.
Things to think about with a hard money loan:
What is your interest rate?Are there any balloon payments due? When?Do you have an extension fee to extend the length of your loan period?Are you selling or … (1 comments)

landlord insurance: Rental Insurance Policy - 10/10/07 10:37 AM

  
Your current insurance company probably will cancel your existing policy if your property becomes vacant. You will need to review your insurance policy to see if occupancy is a condition for coverage. Call your trusted Insurance Advisor and take action.
The big question is? What are you planning to do with the vacated property? Are you going to rent it? You'll need to acquire an insurance policy designed for rental units.  Are you going to try to keep selling it?  In most cases, you may need to find a new insurance company. Most "standard" insurance companies won't insure a vacant dwelling.
For a vacant property policy the … (0 comments)

 

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