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Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder.
Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract.
The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.
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Who is work was forced to recant his scientific work which was placed on the Index?
galileo
What is forced placed Insurance?
Forced Placed insurance is the coverage obtained by your Lienholder when you fail to comply with the insurance required by your agreed finance note. Forced Placed coverage will not provide you with liability insurance that meets your states Financial Responsibility requirements, it only insures the lienholders interest. The terms of your finance contract will describe the required coverage. Failure to comply with the terms of your finance contract results in the lienholder obtaining it to protect their interest in the financed property.
Was forced to recant his scientific work which was placed on the Index?
Galileo
What is a shanghaied sailor?
A sailor who was kidnapped, placed on board a ship and forced to work once the ship set sail.
What is force place coverage insurance?
Forced placed insurance coverage is insurance that is put on your property without your control because you either don't have the insurance you are required to carry or the mortgage company has not received a satisfactory copy of the insurance declaration page. You are responsible for paying for this coverage as they add it to you mortgage account balance. The forced placed coverage on covers the balance of the money owed on your mortgage and does not cover anything else like your contents are not covered, liability is not covered, etc. Only the banks interest is covered and the price is extremely high especially when you consider what they are actually covering.
What is needed to add home insurance to replace a forced insurance policy?
Cancel the forced insurance policy and add terms and conditions to your homeowner policy.
What if amount of damage exceeds the amount of the coverages will the mortgage insurance cover it if its a lender-placed policy?
No. A lender placed or forced place policy is only to protect the bank or finance company and you pay the premiums. The policy does not cover the contents or anything except the amount that is owed to the bank or finance company. In these cases the policy was force placed because the homeowner did not keep the insurance that was required by the contract so the mortgagee placed the coverage to cover themselves.
Can you be forced to use life insurance a certain way?
No.
If the finance company thought your insurance was cancelled and put an add on policy to your loan and the car was totaled while both policies were in effect will both policies pay for the loss?
No, the finance company would simply refund any monies they charged you for forced placed insurance and your primary insurance company would be responsible for footing the bill.
What kind of work were the Taíno forced to do?
they were forced to be slaves
Can a lien holder charge interest on forced placed insurance?
Yes they can. If the lien holder had to advance the premium to pay for the insurance, the amount is added to your finance note with the interest. Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder. Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract. The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.
What is forced mortgage insurance?
Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder. Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract. The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.
