Law & Ethics « home lenders refinance mortgage

October 2, 2010

Hazard insurance policy?

Filed under: Law & Ethics — Tags: Hazard Insurance, Insurance, Insurance Policy, Lenders, Refinancing A Home — admin @ 7:24 pm

Sung A asked:

I believe, most lenders require that buyer obtain a hazard insurance policy prior to buying or refinancing a home.
My question is – Is this mandatory or lender’s policy or the law?…….or it’s up to lender? I am just curious. Thanks

Kevin

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August 12, 2010

What exactly is an Arizona Disclaimer Deed and should I sign it?

Filed under: Law & Ethics — Tags: Divorce, House Sign, Refinancing — admin @ 1:10 pm

azjeeper asked:

My husband bought our Arizona home in his name only one year before we got married. We have lived in the home for 7 years now…He is still the only one on the title. It is now time to refinance to lock in a rate before our ARM is up. He is refinancing the home in his name only and has asked me to sign a “Disclaimer Deed”, which I see as waiving all my rights to the house. I already know if I sign this and we divorce, I get nothing with the house. My question is if I sign this, what happens if he dies? Who does the house go to? If I get a will stating the house comes to me, does the Arizona Disclaimer Deed override this? The lender says they will not approve the refinance without me signing a Disclaimer Deed because I am not on the house loan.

Vicki

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