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 ...

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.

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 ...

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… ...

If your home insurance has lapsed, here’s what you need to do to act quickly to avoid potential financial risks. Get confirmation on the insurance lapse The first step is to confirm whether your ...

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 ...