Legal Question in Real Estate Law in Iowa

Hi:

I have a question relating to home insurance. The mortgage company that was paying the home insurance has completely changed insurance companies. Now, instead of being insured till the age of 85, the premiums are only guaranteed until he is 70. Are they allowed to do that? The contract for the mortgage and home insurance was signed in 1993. Once my father-in-law turns 70 there is no insurance. Could you please help?


Asked on 11/16/10, 11:05 am

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Not sure I understand the question. "Home insurance" would generally mean insurance which would provide coverage if something happened to the house, which would have nothing to do with the age of the homeowner, and cannot be changed by the lender. If you are referring to credit life insurance, then it would depend on the terms contained in the policy. In any event, you should contact an attorney directly to review the relevant documents.

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Answered on 11/22/10, 6:31 am


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