Subject To & Hazard Insurance
I need help on this one....I bought a home subject to the existing mortgage. Included in the monthly mortgage payment was the escrow for hazard insurance. Well that insurance policy just expired. I've had my own policy in place since day one, but how do I let the mortgage company know about it and escrow for it without triggering any due on sale clause? I hope I explained it clearly.
I wrote an article that should help to clarify this issue:
http://www.thecreativeinvestor.com/Article472.html&mode=&order=0&thold=0
If the link doesn't work, it is still on the home page, just scroll down. If you have questions, PM me. Happy New Year! Tim
Thanks, it was helpful. It always sounds so easy once it is explained.
Glad to have helped!