Uninsurable Property

Uninsurable Property

In the United States, a piece of real estate not eligible for insurance through the FHA because it is in need of serious repairs. A property is considered uninsurable if it is a bad risk for the FHA, whose mortgages are guaranteed by the federal government. An uninsurable property is usually not eligible for an FHA mortgage, though, in some circumstances, it may qualify for an FHA refinancing loan.
References in periodicals archive ?
Disaster recovery programs provide financial assistance for uninsurable property damage loss and other expenses incurred as the result of a disaster.
We did find a policy put out by the state for uninsurable property.