By Fred Zimmerman

Have you had your Home Hit By a storm?

These days most everyone that has a home has a loan on their house in the United States. When a mortgage company loans money on a home, they will almost always without fail that they will insure the property. The homeowner actually is the one who pays the insurance every month to insure the property.

The Banks do this in order to insure that if something happens to the home, they will recoup their loan value from the property. There are homeowners that are not aware that they have insurance on their homes. This is because sometimes the monthly payments on the home loan may also include the insurance policy payment.

This does not mean the bank is in charge of the policy. Remember that the bank only wants to make sure the property is insured because they want their money back if something were to happen to their investment. The investment that the homeowner actually is paying for, is really the banks until the loan is paid off. The bank is so concerned about the loan on the property, that they make it a requirement for insurance to be on the home. If you think this is not true, just try to cancel your insurance on your home.

When are home not covered?

The only homes that usually do not have insurance on the home are ones that are fully owned by the homeowner. I have run across homeowners that don’t think that they have insurance on their home to cover property damage. Even if they don’t know who their insurance is, they can rest assured if they are making payments on their home, it is insured.

Contacting your Insurance.

If the homeowner does not know the name of their insurance they can usually find it by looking at the next month’s loan payment. If the insurance cannot be found there, then call the mortgage company and ask who insures the home. They will be able to find out. The Next objection some homeowners have is that insurance will not cover storm damage. They think that home insurance is not for storm damage, but only used if their home burns down, or they flood their home by neglect or something along those lines. That is not true the insurance covers more then just those events.

I talked to a homeowner that has two homes, one burned down from lightning during the same storm his other home suffered hail damage. The insurance sent him a check for his home that burned down, but he was scared to let the insurance know about his hail damaged home. It doesn’t matter if your house is not burned down to the ground, there still may be problems.

Insurance covers Hail and Wind Damage

Insurance does cover storm damage if there is wind or hail. The wind damage does not have to be from a tornado or hurricane either. If there has been a large storm in the area it may be good to let your insurance company know that you might have storm damage.

Also another good indicator that the insurance should look at your home is if cars in your neighborhood have suffered hail damage. That same hail most likely has hit your home also.

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How To Find The Best Home Loan

by

Louis W. Ong

Are you planning to have a home loan to have a house of your own? Well, that is a great plan that you should strive for. The truth is it is a great motivation that must cause you to work hard in whatever job you have right now. Have you see the birds in the sky every afternoon? They come by flock or even alone flying back home. There’s no better place to be after a stressful day except to your own home.

But how can you get he best home loan available? Here are some tips that you must carefully consider if you want to settle finally to a dwelling for you and your family. Check the interest rates. Sure, you will be granted with a home loan once you qualify to the requirements of the lending company. But what will you get in return for the favor granted by the company? Aside from the fact that you will be able to purchase that dream house of yours there’s also a critical side of it that must be given a careful thought. How much s the interest? Will it double the amount of the loan after ten years? Some people say that calculators are not trendy to bring along with you while you discuss the loan agreements with the loan officer. Trendy or not, just bring it since you will definitely be pulled lower than the trendiest figures if you come out of the loaning agency with the saddest face imaginable. There are agencies tat will charge you with a very high rate that may cause you to give up the house you dreamed of in the process. This article was not written to scare you. It was made to remind you hat it pays a lot to do your home work. Ask questions to your loan agent. Never be carried away by your emotion during your conversation to the extent that you would imagine the loan officer saying that he interest rate is 2% every month when in truth and in fact it is 20% every year. Check the online home loan service. When you search for an agency that will help you make a loan, check its background. There is nothing wrong in trying to know what make your life better. The best home loan service online can give you he best advice when it comes to your dream house. Check the license of your home loan broker so that you are guaranteed that your money will not be put to waste. It is definitely true that you will be given a considerable amount of money to establish your home. But the home loan must be paid and you must make a wise decision about it. There’s a great pleasure in watching your kids lie on their own bed right at your own home. So don’t settle for less in availing of a home loan that you have dreamed of.

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