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Basic question involving insuring home inherited through beneficiary deed

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sscrip

Junior Member
What is the name of your state (only U.S. law)?AZ
I recently inherited my moms house when she passed away through a beneficiary deed. Her homeowners insurance is part of the monthly mortgage payment. I am aware that insurance policies follow people not property. I know I need to get insurance in my name for the house. My question is can the mortgage company give me any grief about changing insurance properties? The mortgage company previously tried to get me to assume the mortgage in my name, which I did not do. What I am wondering is can they refuse to include the new insurance in the mortgage payment? I do not know why they would want to do that, or if they would want to do that. I just want to be prepared.
Her policy expires in December of this year.
 


LdiJ

Senior Member
What is the name of your state (only U.S. law)?AZ
I recently inherited my moms house when she passed away through a beneficiary deed. Her homeowners insurance is part of the monthly mortgage payment. I am aware that insurance policies follow people not property. I know I need to get insurance in my name for the house. My question is can the mortgage company give me any grief about changing insurance properties? The mortgage company previously tried to get me to assume the mortgage in my name, which I did not do. What I am wondering is can they refuse to include the new insurance in the mortgage payment? I do not know why they would want to do that, or if they would want to do that. I just want to be prepared.
Her policy expires in December of this year.
I suppose that they could refuse to include the policy in the mortgage payment but its highly unlikely. They have a serious interest in making sure that the insurance on the property is paid. That is why they include it in the mortgage in the first place. They do it to protect their interests.
 

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