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Homeowners insurance is mandatory for mortgage lenders
Homeowners insurance is mandatory for all mortgage lenders. Homeowners insurance, also called hazard insurance, is required by the mortgage lender in the event of a fire or other liabilities where the mortgage lender's assets is at risk. If the property is in a flood zone, flood insurance is also required. Premium on homeowners insurance and flood insurance vary from company to company as well as by geographical region. Here is an article on homeowners insurance:



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