Unbelievable!! We haven't made a payment in over a year. The bank paid the property taxes last fall out of an already negative escrow account, but I had little hope that they would pay the insurance premiums this summer. Our homeowners insurance actually went up $1000 this year, and I talked to the agent about alternatives but she could find us none with the bankruptcy on our record. So, we were all set to cancel the policy and set up just a liability policy and let the bank just forceplace their insurance on the property (which we discharged in bankruptcy) and not worry about it. My husband called today to do so, and just before they did it, I yelled - "Hey, double check that the bank didn't pay it." Of course, they wouldn't have - the account was already in the negative (which it has been for a year now) - and couldn't believe my ears when he said they did. I quickly told him to doublecheck our rental property which was in the same situation but different banks -- yep, they paid it too. I told him just to leave them then. Doesn't matter how ridiculous the premium is at this point - it's insurance we aren't paying, and I'm not bothering to shop around for a better rate for the bank. I just can't believe they did it. I figured perhaps it's cheaper for them than the insurance they would forceplace since we're discharged and they know they're getting no money from us anyway.
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04/01/10 - Hit rock bottom and knew we were going to have to file for bankruptcy and surrender our home.
12/14/10 - Filed Chapter 7, 02/09/11 - 341 Hearing, 04/14/11 - 
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You should call the insurance providers back to get a copy of the declaration page. The insurance that the banks paid for may only protect the lender for the destruction of the building. It may not cover the loss of the contents nor any claim against the titled owner for an injury to a visitor. The only way to know for sure is to get a copy of the declaration page.
Des. -
It's the insurance policy that we were sent as our renewal - same that we've always had. Wouldn't that be right?04/01/10 - Hit rock bottom and knew we were going to have to file for bankruptcy and surrender our home. 12/14/10 - Filed Chapter 7, 02/09/11 - 341 Hearing, 04/14/11 - Comment
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Again, the only way to be 100% positive as to the coverage is to get a copy of the declaration page. Do it for peace of mind.Originally posted by ssmdem View Post
Des.Comment
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No. Since you have not made your mortgage payment in a year, you are in breach of contract....go back and read your mortgage paperwork and promissory note that you signed at settlement for your house. Since you have not made the payments on the mortgage, there are certain things the lender can do and one of them is to protect itself by placing insurance on the house either working through the same insurance agency or another one. As Despritfreya states, the only way to find out what has been done is to get a copy of the renewal....if you did not receive a renewal as you normally do, it is not in your name as the insured always gets a copy of a policy renewal.Originally posted by ssmdem View Post_________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket"Comment
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Quack is right... would anybody actually buy from a guy like this?Originally posted by hrmbusiness
Aside from my anti-spam rant, I do have a Q here. This money that the bank paid- is that considered a post-petition debt? Yes I know it's an old thread, our pal here dredged it up.... but I do wonder where that was left, in case it comes up again.
Keep On Smilin'Comment
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Hi keepsmiling. Our pal here has been sent packing....Originally posted by keepsmiling View Post
"To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed."Comment
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He's "smartdivas" now.....
thanks AC , I think you are going to have a busy day today lol.
But ...anyone have any thoughts on the original Q? OP, you still around?
Keep On Smilin'Comment
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