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Is Home Insurance mandatory with Home loan??This is a discussion on Is Home Insurance mandatory with Home loan?? within the Mortgage Problems and Solutions forums, part of the Mortgage and Loans Forum category; Is home loan manatory with home loan. Actually i have applied for a loan from IDBI bank, before approval the ... |
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12-18-2010, 05:14 AM
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Is Home Insurance mandatory with Home loan??
Is home loan manatory with home loan. Actually i have applied for a loan from IDBI bank, before approval the loan they are assisting me to take home insurance. they are saying it's mandatory. IS IT SO?
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12-29-2010, 12:03 PM
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I am not sure but as per my knowledge it is true i mean it is mandatory.
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05-26-2011, 05:58 AM
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Home Loan
A home loan protection plan is one whereby in the event of your death or disability resulting in loss of income, a sum of money will be made available towards the repayment of your loan. This ensures that your family or dependants do not have to worry about the loan repayment and your home will not be taken away.
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02-04-2012, 07:05 AM
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I really like the information.The FHA sets a limit on how much they are willing to insure. This number depends on the county you live in, and how big your family is. In recent years, this number has increased dramatically, making it possible for people to buy family homes insurance etc.
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04-11-2012, 10:30 AM
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I'm not sure whether it's mandatory or not, but I would suggest you to get an insurance. It's always better to play safe when it comes to real estate.
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| home, insurance, loan, mandatory |
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