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If we have a property in foreclosure can we still force place hazard insurance on it? If so, are we still required to send the 45 day notice before doing so?
Is there a need to force-place hazard? Does the bank have a blanket policy in place for protection on properties that are in foreclosure? If the borrower is going to be assessed a charge for coverage that is placed then all regulatory requirements would need to be met, including the 45 day notice and 15 day reminder notice.
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