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Non-Cattle Specific Topics
Every Thing Else Board
Mortgage - Loss Payee
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<blockquote data-quote="TexasBred" data-source="post: 1501617" data-attributes="member: 6897"><p>Most any mortgage company will require that the property be rebuilt then give you any excess funds left out of the insurance settlement (if there are any) or they'll simply apply it to your loan to pay it off and give you what's left. Eitehr way they've lost their collateral and either have to have the collateral replaced or the note paid off.</p></blockquote><p></p>
[QUOTE="TexasBred, post: 1501617, member: 6897"] Most any mortgage company will require that the property be rebuilt then give you any excess funds left out of the insurance settlement (if there are any) or they'll simply apply it to your loan to pay it off and give you what's left. Eitehr way they've lost their collateral and either have to have the collateral replaced or the note paid off. [/QUOTE]
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Mortgage - Loss Payee
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