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 Posted: Tue Mar 09, 2010 8:49 am Post subject: Home insurance during foreclosure |
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Foreclosure is in progress following a long unemployed stretch and my failure
to sell off my home. The carrier is insisting that I pay the bill since there were no payments from the mortgage escrow. I'm sure the mortgage co. is not gonna respond to this anymore. Now, do I need to maintain HO insurance till the foreclosure gets finalized? Otherwise, what do I do?
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escrowchief
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| Posted: Wed Mar 10, 2010 1:52 am Post subject: |
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I would...as long as you are legally tied to the property as the owner...and I'm not sure when that changes in circumstances such as these. Are you still living in the house?
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Lori
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| Posted: Wed Mar 10, 2010 12:56 pm Post subject: |
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| Quote: | | Are you still living in the house? |
I'm currently staying with my girlfriend. But yeah, I do have access to my home.
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escrowchief
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| Posted: Thu Mar 11, 2010 11:27 am Post subject: |
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I'd wonder why your mortgage co. won't pay!
Did you call your mortgage company and ask for an explanation?
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sil
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| Posted: Fri Mar 12, 2010 9:36 am Post subject: |
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Under circumstances that your house gets sold by the bank at foreclosure, they'd seek the difference from you. They will come after you for a bigger amount if your house gets damaged due to fire.
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Juanita
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| Posted: Sat Mar 13, 2010 5:59 am Post subject: |
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Ask your mortgage co. to disburse payments to your HO insurer right now!
They just can't hold back money in the escrow account like this. See, if by any chance your house gets damaged now, then you'll be in a mess. |
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roddick
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