I am about to purchase my first home, and the company which I am trying to get my mortgage with is charging me for 15 months of hazard insurance up front……is this normal?
I understand that I have to have Hazard Insurance, but I just don’t see that I have to have so much of it before I even move in. I would then be charged Hazard insurance for every month I am in the property.
So what happens to the 15 months I would have already paid? Doesn’t it count for anything?