beevelbop
Expert
Hey guys,
I'm a reverse mortgage broker and I have a client who needs "primary residence" homeowners insurance.
My client's home is in Lake Elsinore, and he rented his property out until 9/6/23(he evicted his tenant). On 9/11/23 he resumed occupation of the property...so it's now his primary.
He currently has a rental policy through State Farm. The problem is he has 2 claims on the property...1 in 2019 for "water or freezing damage" and 1 in September for his previous tenants "vandalism/malicious mischief". Like I said, they evicted the tenants.
Being that this is a reverse on his primary, underwriting needs an owner occupied policy. State Farm won't do it(they aren't writing policies at this time) and we've been turned down by others due to the claim history.
His current premium is 130.91 monthly, and he's on fixed income...so doing a combination of the CFP/DIC won't work for his "debt to income".
If you think you can help...feel free to email me at [email protected] or call/text my cell (443) 802 5923.
Thanks!
Jason Eichmiller
I'm a reverse mortgage broker and I have a client who needs "primary residence" homeowners insurance.
My client's home is in Lake Elsinore, and he rented his property out until 9/6/23(he evicted his tenant). On 9/11/23 he resumed occupation of the property...so it's now his primary.
He currently has a rental policy through State Farm. The problem is he has 2 claims on the property...1 in 2019 for "water or freezing damage" and 1 in September for his previous tenants "vandalism/malicious mischief". Like I said, they evicted the tenants.
Being that this is a reverse on his primary, underwriting needs an owner occupied policy. State Farm won't do it(they aren't writing policies at this time) and we've been turned down by others due to the claim history.
His current premium is 130.91 monthly, and he's on fixed income...so doing a combination of the CFP/DIC won't work for his "debt to income".
If you think you can help...feel free to email me at [email protected] or call/text my cell (443) 802 5923.
Thanks!
Jason Eichmiller
