I’ve been a loan closer for several years at a major bank. One of the main problems I run across when trying to close out a loan is the customer not having enough home insurance. I always tell them to try make sure that their insurance covers replacement cost.  Most times the borrower gets upset because it could delay the closing of their loan. As long as the home can be rebuilt than it wont be a problem closing the loan. It’s my job to make sure the bank’s interest is secure. Once the insurance issues are sorted out the closing seem to run more smoothly.

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