*Loan,banking and credit>>>mortgage insurance

I have no fire insurance on my home what will the bank do about my mortgage. am i in default of my mortage?

Yes you are. They will most likely place you under their blanket mortgage fire policy. It is more expensive than home owners insurance and it does not cover you. Additionally, because it covers very little, you could still lose your home, such as to a tornado and still have to pay the loan off yourself. In addition, they do have the right to foreclose. They can also change your payment. If they do any of these, you cannot fix it without a valid policy.

Go get a policy.

OPM is right. It's best you get your own insurance before the bank places it for you or as soon as possible.

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