Question
What is an insurance purchased by a bank or creditor on
an uninsured debtor’s behalf so if the property is damaged, funding is available to repair it?Solution
Lien holders will put forced place insurance onto a mortgaged property in cases where the borrower allows the coverage they were required to purchase to lapse. Lapses may be due to non-payment of premium, filing false claims, or other reasons. Forced place insurance will protect the property, the homeowner, and the lien holder. Future mortgage payments will reflect the added cost of the insurance. Forced place insurance is also known as creditor-placed, lender-placed, or collateral protection insurance.
Which of the following best describes the tone of the passage?
In each question below, four words printed in bold type are given. These are numbered (A), (B), (C) and (D). One of these words printed in bold might e...
Why was it not possible for them to withdraw money from the bank?
Which of the following is most similar in meaning to the word 'indifference' as used in the passage?
Choose the word which is most nearly the same in meaning to the word ‘onus’ as used in the passage.
What led to the author warning the readers that they had to be careful while using the railways, or they might waste their time unnecessarily?
How, according to the passage, did African countries transform themselves from unattractive to popular tourist destinations?
Which of the following happened in Nepal in the 19th century?
How do the volunteers transform the park?Â
What is the ‘Undead limb’ being referred to?
