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INSURANCE/MORTGAGE REQUIREMENTS

Insurance companies, mortgage companies and mortgage insurance companies have recently expressed concerns with specific systems/components in older homes and buildings.

The following includes, but is not limited to, the various concerns you may have to consider with your mortgage or insurance broker:

  • Knob and tube electrical branch wiring.
  • 30, 50 or 60 amps. main electrical service.
  • Electric, radiant ceiling heating.
  • In-house fuel oil storage tank (older than twenty-fire years).
  • Underground, in-use fuel oil storage tank.
  • Abandoned, underground fuel oil storage tank.
  • Older (more than forty years) galvanized steel, water lines.
  • Large tree on front yard with older, main sewer line.
  • Existing basement apartment (not retrofitted to Fire Code requirements).
  • U.F.F.I. (Urea Formaldehyde Foam Insulation).
  • Wood burning stoves or wood burning inserts.
  • Unlined chimney flues servicing wood burning stoves/other solid fuel appliances.
  • Insulbrick exterior siding.
  • Row houses/semi-detached houses with interconnected crawlspaces/attic spaces
  • Row houses/semi-detached houses with wood frame demising/common walls.
  • EIFS (synthetic stucco) wall siding
  • We advise that you contact your insurance or mortgage broker for clarification on the above matters as soon as possible.