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SB1086 - Restricts lenders from requiring borrowers to obtain home owners insurance exceeding the property's replacement value - Cau
| SB 1086
| Restricts lenders from requiring borrowers to obtain home owners insurance exceeding the property's replacement value
|
Full Bill Text |
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Current Bill Summary
SB 1086 - This act restricts lenders from requiring
borrowers to obtain homeowners insurance in an amount
exceeding the replacement value of the improvements and
contents of the real property as a condition of financing a
residential mortgage. A violation of this provision shall not
affect the validity of the loan, note secured by a deed of
trust, mortgage, or deed of trust. This provision can also be
found in HB 1291 (2004).
STEPHEN WITTE