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Posted by JackM on July 15, 2005 at 22:34:22:

In Reply to: Re: Forced Insurance/REO Insurance posted by Lisa Goodner on July 14, 2004 at 16:52:43:

It seems to me that the borrower would be in breach of the loan conditions by letting the insurance lapse.

Wouldn't this mean that one could walk in and take over the property ? (Or, take out an insurance cover oneself and charge it to the borrower ?)

JackM

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