If your home is damaged while you're still paying it off, the mortgagee clause stipulates that the insurance provider will pay your mortgage lender for the loss.
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What is a mortgagee clause?
The mortgagee clause is a provision in a homeowners insurance policy that protects the lender from financial loss if the ...
The insured’s mortgagee brought an action against the insurer to recover for a fire loss to a vacant building. This case is SWE Homes, LP v. Wellington Ins. Co., 436 S.W.3d 86 (Tex. App. 2014).
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