Quote:
Originally Posted by reasonant
Does any one know the new law about insurance? I've heard that you need to be insured to a certain extent, should you be applying for a mortgage. This new regulation will be implemented in two months. Any further update would be much appreciated  |
This is not a new rule. It was always there. Just that it has been documented now.
Don't expect banks to take any liability if one dies. Banks are in the business of making money, not in the business of foreclosures.
They cover themselves very well by insisting on an insurance policy.
Regards
Roshan