How long should I carry homeowners insurance after foreclosure starts?
Oct 23, 2009 in
Insurance
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Foreclosure has started, getting ready to move now, how long am I liable for the home?
Foreclosure has started, getting ready to move now, how long am I liable for the home?
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4 comments
Stacy on October 25, 2009 at 6:14 pm
Until some other entity assumes ownership.
flamered2003 on October 25, 2009 at 10:56 pm
until your name is off the mortgage. dont take that chance.
Sue on October 27, 2009 at 1:52 am
You are responsible for all property damage & liability until the day the deed is changed to someone else’s name or the bank’s name. Then & only then should you cancel the homeowners insurance.
Be advised, there is probably a vacancy clause in the homeowners policy. The standard clause is 30 days after the house becomes vacant (unfurnished – one chair does not make a house furnished & no one living there), there is no longer an vandalism coverage.
nobrethequeen on October 29, 2009 at 7:45 am
call the bank where u have the mortgage & ask them this cuz they will tell u how long u have to have this insurance. i think that when u leave then u can let them know that date so u will be reimbursed so good luck.