homeowners insurance for surrendered house?

[sobroke]

I filed chpt 7 and already had my 341 meeting. We are surrendering our house. My family and I have moved out and we are just waiting for our short sale or foreclosure to occur (whichever happens first I guess) Do I have to keep insurance on the house? My insurance was escrowed with my payment. I haven't been paying my payment (obviously) and therefore I haven't been paying my insurance. Is this okay? What if something happens to the house? Are we liable? We live 2 hours away and it is hard to stop and check on everything. Any comments/advice?

[Viper]

I wouldn't worry about it. Chances are you policy is paid a year at a time. So even if your coming up to your renewal date, the mortgage company would get the bill and it would be in there best interest to pay it.

- Viper

[EdytaHome]

Viper is right and wrong. Your property insurance is paid a year in advance up to the month you bought your property in. I actually ended up getting a refund after foreclosure from my insurance company. On the other hand, if someone trespasses on the property, brakes his/her leg and decides to sue, they will sue you. And since you already filed BK, you can't file again on this circumstance for another 6 years. So be careful until it's foreclosed, don't cancel the insurance just yet.

[Minnymouth]

On the insurance issue,
I have had to maintain property tax and insurance on my home/land for the last 14 months - EVEN THOUGH I DON'T OWN IT..... (trustee took it).
But in order to protect myself.....I've had to pay the premiums.
This year I refused to pay the property taxes on it.......
I will pay the insurance to protect myself till I'm forced to move out......
These bills should be going to the trustee (as part of the estate) - but they refuse to pay them.....

WhenI settle up with everyone I will make them reimburse me for all my expense.

Minny