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#2251231 - 03/25/21 03:56 PM Simultaneous Closing - 2 loans on 1 property
Wonderofitall Offline
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Wonderofitall
Joined: Sep 2010
Posts: 171
Out West
1st mortgage and HELOC closing at same time with both loans secured by the same property. Can the same SFHD be used for each loan or does each loan require its own SFHD?
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#2251233 - 03/25/21 04:05 PM Re: Simultaneous Closing - 2 loans on 1 property Wonderofitall
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 78,597
Galveston, TX
That is a matter of your contract with your vendor. If you are ordering life of loan - how are you going to know when to cancel the life of loan coverage?
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#2251241 - 03/25/21 04:38 PM Re: Simultaneous Closing - 2 loans on 1 property Wonderofitall
Wonderofitall Offline
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Wonderofitall
Joined: Sep 2010
Posts: 171
Out West
Thanks, Randy!
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