Many Insurance companies placed a moratorium on issuing new Homeowner's (Hazard) Insurance policies in metro Atlanta in the aftermath of Hurricane Irma. If a Buyer is getting a mortgage, that lender requires proof of a Binding Hazard insurance policy in order to close the loan. Watch the
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Keller Williams Elite - Franklin, MA
"connecting land with builders"
Good morning, Dana (Lerner) Sparks ugh....what a horror show for so many people who have their properties under agreement....
Sep 15, 2017 08:33 AM
I agree Barbara Todaro - it is a bad situation for so many & then to find out you can't close on a new home because the Insurance company can't bind your policy yet. I believe that Lenders may gretaly help out if a Buyer finds themselves in this situation!
Sep 15, 2017 08:45 AM
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor
A few years ago I went into my State Farm agent to get a house I was purchasing the next day insured and my agent told me state farm was not insuring any new properties right now. So, I found another insurer and moved 71 properties I own over to him. I sure would have hated to be a state farm agent during that time period.
Sep 15, 2017 09:25 AM
Rainmaker
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Dana (Lerner) Sparks
Satisfying You with Service Innovation & Education
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