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Can a creditor put a home on foreclosure due to not having home insurance?
Wiki User
∙ 12y ago
Yes, Maintaining your Home hazard Insurance Policy is a requirement of your Mortgage Finance Contract or Note.
Failure to maintain adequate Property Insurance is a default of your agreement with the mortgage company.
Wiki User
∙ 12y ago
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If you are behind on your mortgage will they keep your insurance claim?
If your home is in foreclosure then yes they apply it to the loan balance in the event you loose your home.
Do you need to keep paying for home insurance when your home is being sold due to foreclosure?
Yes, you need/should keep paying for the insurance until you are not on the title anymore.
If you live in an FHA loan house can it be sold at your death to pay a judgment against you?
The lender is not the deciding factor, although FHA insurance can sometimes prevent a home from foreclosure and/or a forced sale on in some situations. What determines if a creditor can use a judgment to seize a homestead is the laws of the state in which the property is located and how the home is titled.
Are you responsible for carrying insurance on a home until foreclosure?
Yes, of course you are! Don't let it forclose! There are people out there that can bail you out!!!
What information should you ask when buying a home in foreclosure?
You'll need assurances that there are no other leins or encumberances. A title insurance company will help you there.
What are the risks of not having insurance on home contents?
There are many risks associated with not having insurance on home contents. This includes losing the value of your contents if there was an accident, such as a fire, or due to burglary.
What are the laws in Michigan on manufactured home repossession?
If a borrower defaults on loan payments for a manufactured home in Michigan, the creditor can take the manufactured home. If the manufactured home is real property the repossession and foreclosure is on the manufactured home alone. If the home is being used for residential purposes, the home is repossessed according to personal property laws.
Can you rent out your home while home is in foreclosure?
Yes you can, but in most states you have to tell the potential tenant about this foreclosure.
Can a second mortgage put your home in foreclosure?
Yes, any unpaid mortgage can put your home in jeopardy of foreclosure.
In California what is the time limit for moving out of a foreclosure?
what is the time for foreclosure on a home in california?
If your renting a home in foreclosure when do you stop paying rent?
Not until there is a foreclosure sale.
There is insurance money for home repairs being held by the mortgage company what happens to this money during a foreclosure?
I really recommend calling your mortgage company to ask.
