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#1774655 - 01/10/13 03:16 PM ACV policy
SUSANE1 Offline
Platinum Poster
Joined: Mar 2008
Posts: 808
Loan balance is $35,900
Hazard insurance is for $149,000
Received flood policy with ACV policy for $36,000

Is this enough coverage?

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Flood Compliance
#1774658 - 01/10/13 03:19 PM Re: ACV policy SUSANE1
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Since the policy is more than the loan, the ACV does not come into the calculation.
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#1774677 - 01/10/13 03:30 PM Re: ACV policy SUSANE1
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
Assuming your loan isn't a second behind another FI's first. If it is, then you would have to determine if it's 1-4 owner-occupied or not.
Last edited by RR Joker; 01/10/13 03:31 PM.
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My opinion only. Not legal advice.

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