Author Question: The mortgage clause on a homeowners insurance policy requires that A) you must be promptly ... (Read 58 times)

mrsjacobs44 · **on:** Jul 11, 2018

The mortgage clause on a homeowners insurance policy requires that

A)

you must be promptly notified if the holder of your mortgage transfers the contract to another lending institution.
B)

payments for damages to the structure of the building be made to the mortgagee who will hold the funds until repairs are completed.
C)

if insurance premiums are not paid on time, the lender may revoke your home mortgage.
D)

in the event you are held liable for damages to a third party, the courts may not attach a lien on the mortgaged equity in the home.

Question 2

The most popular UITs are those investing in real estate.

Indicate whether the statement is true or false