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If your house is forclosed on are you still responsible for keeping insurance on it?
Wiki User
∙ 15y ago
http://articles.latimes.com/2007/oct/28/realestate/re-qa28
This article says:
The lender is on the hook. When people are making their monthly mortgage payments, very often the insurance premium is wrapped into that payment. But when the homeowner stops making payments, those insurance premiums aren't being paid. When a property goes into foreclosure, the lender or bank is notified that those insurance payments become their responsibility. Question: So, at what point is the lender on the hook in the foreclosure process? Answer: It depends on the situation and when the lender is given a notice, but generally the lender has time to arrange insurance. It is possible some lenders weren't covered, but it's unlikely.
Wiki User
∙ 15y ago
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Does PMI pay the forclosed house off?
i believe it does pay the mortgagee, and satisfies it with them, but doesn't absolve you of repayment (what is left after they sell the house).........but i'd call (or read the policy) on your mortgage insurance
If your rental property is forclosed, will you loose the house you currently live in ?
there is a possibility that will happen becuase it is a rental property not a leased or buying option where you would have more options to keeping if you were a home owner.
What are current prices of a house?
That will depend on the square footage of the house,and if you can find a forclosed property you can reduce the price substanstually.
Is the executor responsible for maintening house and garden?
The executor is responsible for the estate. That would include keeping the property in good condition.
Are you responsible for carrying car insurance on a driver in your house over 18?
You may or may not have to provide insurance for them if they have their own vehicle but you are responsible for listing them on your auto insurance policy and providing your insurance company with their license information and birthdate.
Can you evict tenants for nonpaiment if house is being forclosed?
Right up until the foreclosure sale, yes.
If you are a guest in somebodies house and they back in to your car whose fault is it?
Being a guest in someone's house has nothing to do with car insurance. If someone backs into your car then their car insurance is responsible.
Why was francis house forclosed on in kit kitterdge the movie?
The father's auto dealership failed and he could not make the payments.
When a neighbors house catch on fire and then yours who is responsible?
Whoever started the fire is responsible. Hopefully both you and your neighbor are covered by homewoner's insurance.
What is a hotel housekeeping department mean?
"house keeping department of a hotel is responsible for the cleanliness and aesthetic upkeep of a hotel...!"
If I rent a house and get water damage to my furniture who is responsible?
The landlord is usually only responsible for negligent damage, not fire or disaster. You can buy renter's insurance to cover your furnishings.
If a neighbor's tree falls on my house who is responsible?
If the tree was not dead already and clearly so then your insurance would pay for the damage to your house. A storm that causes the tree to fall is considered an "act of God" and the neighbor is therefore not responsible for the incident.
