what does this mean re Foreclosure?

[B65]

My attorney said we would be resposible for these if we foreclose...

"taxes, damage claims regarding the property, premises liability claims, and utilities accruing after filing"

I understand taxes and damages what are premise liability claims?

we would try to stay in as long as we could but if we left early because we found a rental would that be ok..... when the bank gets it into their name I cease to be responsible right?
did anyone leave before they had to and what precautions did you take?

Thanks B

[BassBoy]

Premise Liability Claims is your homeowners insurance. If you had escrow included in your mortgage payments (property taxes and insurance), you should have enough in escrow to cover this for a while. The bank/lender will continue to pay the taxes and will pay for their own insurance and this will probably just be added to whatever you already owe them, and then of course discharged with the rest of your debts. Once the foreclosure is complete and the deed is in the lender's name, then you are no longer repsonsible for anything.

We left our home about 15 months before the home was back in the lender's possession and we never heard a peep out of anyone about property taxes and insurance. We shut off all of the utilities so we had no bills to pay. We did move within the same city limits, so whatever we owed at the time was transferred to our new residence (except water and sewer...paid by landlord), but this may not be the case with everyone.