Posted on: 28th Nov, 2010 12:45 pm
In the middle of my refi (same company, home, and owner), the company wants me to sign a secondary residence rider on this, my ONLY HOME, because I work most of the year in another location (same state). They say the underwriter wants it. What does it mean (legally, etc.) if I sign it???
Hi upnorthwolf,
As far as I know, the secondary residence rider will be a kind of insurance. You can purchase this rider to your insurance policy to provide coverage for the property. As per my knowledge is concerned, it's generally cheaper than buying a separate policy for the additional home.
As far as I know, the secondary residence rider will be a kind of insurance. You can purchase this rider to your insurance policy to provide coverage for the property. As per my knowledge is concerned, it's generally cheaper than buying a separate policy for the additional home.