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Tag: Force-Placed Insurance

  • What is Force-Placed Insurance?

    What is Force-Placed Insurance?

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    Force-placed insurance, also known as lender-placed or creditor-placed insurance, is a type of insurance policy that a lender or mortgage company purchases on behalf of a borrower when the borrower’s own insurance coverage lapses, is canceled, or fails to meet the lender’s requirements. It is primarily used in situations where a property or vehicle serves…