The mortgage company will put a policy on the house which generally costs more & they will take the money from the homeowners sale monies whether it be from their profit or if its a short sale that amount as well as all other necessary charges will be included in the final Hud & be paid directly to the bank not the homeowner.
Helen Cocuzza Realtor Associate
Better Homes & Gardens Real Estate Mary Holder
Direct: (732) 232-1614
It is always good to have insurance on a property that you own. They are liable if the home is uninsured and there is a fire or other disaster.
Licensed in Maryland, Virginia and D.C. - 28 Years