Problem with increasing homeowner’s insurance deductible

Reader says it cannot exceed 1% of mortgage balance
Published on Oct 26, 2004

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by CareyBot

DEAR BOB: You had a recent item about increasing homeowner’s insurance deductibles to $2,000 to avoid too many policy claims. However, I discovered that mortgage loan servicers restrict homeowner’s insurance policy deductibles to a maximum 1 percent of the loan ...