Skip to content
GeoDataVision
Thread Options
#1593152 - 08/17/11 07:22 PM $400 coverage deficiency
complyorelse Offline
Gold Star
Joined: Nov 2007
Posts: 442
U.S.
We have a loan that we discovered a flood insurance deficiency in the amount of $400. The renewal notice for the policy just arrived and the deficiency will be cleared up at the time of paid renewal which is on 9/30/11. If we start the force place procedures tomorrow, the policy will renew befor the 46th day. Do we need to start the force place process for this small amount in the meantime?

Return to Top
Flood Compliance
#1593271 - 08/17/11 08:56 PM Re: $400 coverage deficiency complyorelse
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,844
Bloomington, IN
If you have determined you are inadequately insured per the regulatory requirements then you should start your force placement procedures.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top