Last summer, I wrote about the nasty effect of the newer pending litigation Fannie Mae condo rules. Steve Bergsman, from Inman, was gracious enough to retell a story about how these rules left my client with a denial of his financing just days before his condo closing, leaving him living in a motel for weeks. Another attorney represented him in the transaction, who I believe bordered on committing malpractice by not following my guidelines, below. My legal advice for Realtors and condo buyers is to:
All Massachusetts Producers RE: The Association, in its continuing efforts to provide the highest standard of service possible, is pleased to introduce an Electronic Payment Option, specifically an Internet initiated transfer of funds, at the Association's Website mpiua.
The system allows producers, insureds, mortgage companies and other interested parties to pay policy premium by authorizing an Internet initiated transfer of funds. By utilizing this feature, the Service Fee is waived for any invoice paid online.
Payment must be made for at least the Minimum Due on any invoice. Any payments submitted for more than the minimum due will be applied to the remaining balance. This is a One-Time payment authorization where payment is transferred electronically from the payor's bank account to the Association's account and applies payment to the policy number indicated.
Funds may be withdrawn the same day the transaction occurs. The transaction is not an automatic fund withdrawal where an arrangement is made to withdraw funds at certain intervals; however, eligible invoices will indicate this option is available.
The One-Time Payment option is not open to payment by credit card. Producers cannot utilize this transaction with checks remitted to them, but can utilize this feature with their own account. Instructions for this procedure are available at mpiua. The Association has complied with all clearinghouse regulations regarding this transaction and has made every effort to ensure that it is secure.
If you have any questions regarding this letter, please contact our Customer Service Department. Pappas Vice President-Underwriting Did you check your smoke detectors today!
Massachusetts Property Insurance Underwriting Accociation 1 pages.STATUTES: MONEY AND CREDIT. Liability for Lost or Stolen Credit Card.
15 United States Code § § Liability of Holder of Credit Card (a) Limits on liability. The Certified Insurance Counselor (CIC) Program is a nationally acclaimed continuing education designation program.
Its course content and practical application make it the most essential program for both agency and company personnel. The condominium association should have a master liability insurance policy in place in case anyone gets injured on common area property.
If however, the claim is so substantial that all common funds, property and insurance proceeds have been exhausted to pay the claim, individual unit owners could be held liable for the balance due, if any.
Typically, loans used for a second home or rental property require a minimum 20% down payment since mortgage insurance is not available for investment properties. You'll also need to have 2 years of property management experience if you want to use your property's rental income to qualify for a loan.
Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which control coverage determinations.
Liquor liability insurance helps shield Massachusetts that serve alcohol from potential lawsuits like these. Liquor liability insurance is a form of liability coverage that’s designed to protect businesses that sell alcohol from liability claims over alcohol-related incidents.