It is our experience that when the Insurance Companies and the Investors hear that a certain "area" might be affected by a Hurricane, they do the following:
- Require Inspections
What kind of Inspection depends upon the Investor, Even if the storm has not reached Landfall yet,... let's say you have a closing scheduled for tomorrow - you probably have a problem. Insurance Companies do not want to issue new policies to an area that they might have to turn around and put money out for.
Every State, Every Investor and Every Insurance Company is different. This is just our Heads up that there will likely be delays in the next week - even if the property is FINE.
If you have questions about mortgage loans in NC, Call Eleanor and Steve Thorne, 919-649-5058.