[NotCranky]

Raptor
Selling without owning another home would be very uncomfortable to our family. We did it in 2005 and often think of doing it again because we have built a relatively large sum in sweat equity. If my lot were not splittable, allowing me to protect at least some of the gains I might lose by staying here, we would be gone. I am not saying everyone should look at a windfall or asset protection in their personal residence this way, just saying I know it is a tough decision from having hashed it out a couple of times.

Good luck.

[NotCranky]

1. After 2003 incident, didn’t policy limits change to account for current costs? Companies are insuring for only 150-170 SF, which is builders cost for hundred not 1 home.

Many insurers still under-insure to keep rates low and competetive. They are willing to deal with the issue on a case by case basis when there is a big loss. Not that they make it easy all the time.As stated in the article they put the customer in a bind between wanting the house back quickly and fighting for the rest of the money . Most losses are small so the question doesn’t come up. In place of actual coverage, most offer or automatically put a rider increasing the limits of coverage but the terms for recouping this money are different.

[NotCranky]

1. After 2003 incident, didn’t policy limits change to account for current costs? Companies are insuring for only 150-170 SF, which is builders cost for hundred not 1 home.

Many insurers still under-insure to keep rates low and competetive. They are willing to deal with the issue on a case by case basis when there is a big loss. Not that they make it easy all the time.As stated in the article they put the customer in a bind between wanting the house back quickly and fighting for the rest of the money . Most losses are small so the question doesn’t come up. In place of actual coverage, most offer or automatically put a rider increasing the limits of coverage but the terms for recouping this money are different.

[NotCranky]

1. After 2003 incident, didn’t policy limits change to account for current costs? Companies are insuring for only 150-170 SF, which is builders cost for hundred not 1 home.

Many insurers still under-insure to keep rates low and competetive. They are willing to deal with the issue on a case by case basis when there is a big loss. Not that they make it easy all the time.As stated in the article they put the customer in a bind between wanting the house back quickly and fighting for the rest of the money . Most losses are small so the question doesn’t come up. In place of actual coverage, most offer or automatically put a rider increasing the limits of coverage but the terms for recouping this money are different.

[NotCranky]

1. After 2003 incident, didn’t policy limits change to account for current costs? Companies are insuring for only 150-170 SF, which is builders cost for hundred not 1 home.

Many insurers still under-insure to keep rates low and competetive. They are willing to deal with the issue on a case by case basis when there is a big loss. Not that they make it easy all the time.As stated in the article they put the customer in a bind between wanting the house back quickly and fighting for the rest of the money . Most losses are small so the question doesn’t come up. In place of actual coverage, most offer or automatically put a rider increasing the limits of coverage but the terms for recouping this money are different.

[NotCranky]

1. After 2003 incident, didn’t policy limits change to account for current costs? Companies are insuring for only 150-170 SF, which is builders cost for hundred not 1 home.

Many insurers still under-insure to keep rates low and competetive. They are willing to deal with the issue on a case by case basis when there is a big loss. Not that they make it easy all the time.As stated in the article they put the customer in a bind between wanting the house back quickly and fighting for the rest of the money . Most losses are small so the question doesn’t come up. In place of actual coverage, most offer or automatically put a rider increasing the limits of coverage but the terms for recouping this money are different.

[NotCranky]

c’mon you, know I am just trying to stir up the pot:).

[NotCranky]

c’mon you, know I am just trying to stir up the pot:).

[NotCranky]

c’mon you, know I am just trying to stir up the pot:).

[NotCranky]

c’mon you, know I am just trying to stir up the pot:).

[NotCranky]

c’mon you, know I am just trying to stir up the pot:).

[NotCranky]

I wonder if your broker friend feels guilty about putting some of his former clients into homes they can no longer afford,

coop,
I bet he is the good kind of mortgage broker who never did anything like that. Seems like those are the only kind out there anymore.

When we go to work with agents or brokers maybe we should demand to see the list of properties they sold or lent against in the last 4 years and compare to NOD’s and NOT’s.

[NotCranky]

I wonder if your broker friend feels guilty about putting some of his former clients into homes they can no longer afford,

coop,
I bet he is the good kind of mortgage broker who never did anything like that. Seems like those are the only kind out there anymore.

When we go to work with agents or brokers maybe we should demand to see the list of properties they sold or lent against in the last 4 years and compare to NOD’s and NOT’s.

[NotCranky]

I wonder if your broker friend feels guilty about putting some of his former clients into homes they can no longer afford,

coop,
I bet he is the good kind of mortgage broker who never did anything like that. Seems like those are the only kind out there anymore.

When we go to work with agents or brokers maybe we should demand to see the list of properties they sold or lent against in the last 4 years and compare to NOD’s and NOT’s.

[NotCranky]

I wonder if your broker friend feels guilty about putting some of his former clients into homes they can no longer afford,

coop,
I bet he is the good kind of mortgage broker who never did anything like that. Seems like those are the only kind out there anymore.

When we go to work with agents or brokers maybe we should demand to see the list of properties they sold or lent against in the last 4 years and compare to NOD’s and NOT’s.

[Author]

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