This sort of came up more quickly than I would have expected and it is something that might be gone if I do not figure out what I need to do to take advantage of it. In theory I have the money that I need for this, because this house is in a rather poor location and it is not in the best of shape. Of course there is a lot more to it than you think there is. For starters I have been talking to this homeinsurance-deals.com service by email and trying to figure out how to get enough home insurance to satisfy the bank. I had not ever thought about needing to get home insurance and it is not something that I would have done if it had been up to me. I would not have thought about it if no one had told me that I had to do it.
Of course the bank is the one who wants the insurance before they are going to give you a loan. It is a simple matter of them looking after their best interests. They have probably loaned plenty of money to people who did dumb things or had a natural disaster wreck their house. If you have a big loan on a house that has been turned in to a big wreck by an act of God, then you might not be willing or able to pay the bank back. The home insurance is there to do that in the worst case. They want the money back with interest, even if you are dead and gone or any other thing should happen. If you can not pay it back then the insurance company has to pay it back. Of course you have to pay for the insurance too.