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elizabeth, mountain rest
November 4, 2014 08:20:24 PM
In reply to elizabeth, mountain rest
Thanks for stopping by TD Helps with your question today, Elizabeth. We'd be happy to provide you with more details about your Mortgage.
Homeowners Insurance is required for any active Mortgage loan. Your home is the collateral for the mortgage loan you're obtaining, so until you pay your mortgage in full. As a condition of issuing the loan, TD Bank will require you to purchase a certain amount of homeowners insurance that will protect both you and TD Bank in the event that your home is damaged or destroyed.
Generally, at the closing or a few days before closing, you'll be asked to submit proof of coverage, with TD Bank named as loss payee. If you have any questions, you may call Financial Services Group (FSG) 24/7 at 800-937-5020 and one of our Specialists will be able to answer any other question you may have about how much is covered for you homeowners insurance.
We hope this information helps, Elizabeth and have a great night!
Luis C, Mount Laurel
November 4, 2014 08:21:30 PM