Key takeaways. The mortgagee clause is a provision in a homeowners insurance policy that protects the lender from financial loss if the mortgaged property is substantially damaged or destroyed.

Once you’ve chosen a homeowners insurance company, you’ll tell the insurer to add a mortgagee clause or loss payee clause in your policy. You’ll probably provide your lender’s details and ...

The mortgagee clause is a provision in a homeowners insurance policy that protects the lender from financial loss if the mortgaged property is substantially damaged or destroyed. Many mortgage ...

The “mortgage clause” can mean you’ll need your bank’s OK before you cash that check and make repairs to your home. Hurricane Matthew victims beware: That insurance repair check could mean ...

An acceleration clause allows a mortgage lender to demand full repayment of the loan if certain conditions are not met. This clause protects against missed payments, violations of loan terms, or ...

An acceleration clause allows a mortgage lender to demand full repayment of the loan if certain conditions are not met. This clause protects against missed payments, violations of loan terms, or ...

To stop an insurance company’s force-placed insurance on your home, contact your lender and provide the new policy details ASAP. The mortgage company may require proof of insurance, which you ...

When you take out a mortgage, you plan on paying it back over 15 or 30 years. But in some cases, the lender can demand full repayment sooner. Mortgages allow for this possibility with acceleration… ...

You might come across the term “mortgagee” in your loan documents and your homeowners insurance policy, specifically in the mortgagee clause. As the mortgagee, the lender determines whether ...