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#2201312 - 12/21/18 02:51 PM Flood Insurence on a second mortgage
mdog76 Offline
Platinum Poster
Joined: Jan 2007
Posts: 645
What are the items to look for when a customer wants to take a second on property located in a flood zone? Does there need to be a second, separate policy?

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Flood Compliance
#2201315 - 12/21/18 03:05 PM Re: Flood Insurence on a second mortgage mdog76
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
No - but you have to calculate the minimum required coverage taking into account the balance on the first lien loan added to the new second lien loan amount. You can only have one NFIP policy on a given building.
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