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 ...

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 ...

you’ll need to update your homeowners insurance policy. You should remove your mortgage company from your policy by eliminating the mortgagee clause, which entitles them to reimbursement if the ...

Ask your insurer if there are options to cover these events. Yes, your mortgage lender will require homeowners insurance before closing. If you decide to switch carriers later, be sure that your ...