bank put homeowners ins on surrendered house

[michea]

hello
I am aware that I am responsible for HOA dues until house is foreclosed on but what about the Insurance the bank put on the house after my insurance company dropped me after I moved out. Is this my debt or does it go along with the house which was included in Bk.
thanks.

[justbroke]

Forced placed insurance on a surrendered property, is not your expense. The bank has to do this, otherwise they could suffer a severe loss if there was a fire or other casualty.

[Flamingo]

Forced, placed insurance by a lender on secured property can be your responsibility since the property is still in your name. If you do not provide insurance on secured property on which there is a lien by a creditor (i.e., car, house, etc.), the lender can have insurnace placed on the property and you are resonsible. You will have to find out from the mortgage holder the details of what they did. I am sure you received something in the mail from them, or some sort of notice, as to what they would do if there was no insurance in place.

[justbroke]

I'm sorry, I didn't consider whether the debt was discharged in a Bankruptcy. I assume that it was.

[fltoo]

I am not saying that you should do this but.........
if you have a discharged BK and the house has been foreclosed.....

unpaid HOA dues will be paid when the lender passes title to the new buyer to avoid a cloud on the title.

lender placed insurance billed to you is discharged in the BK.

[cory1848]

What if the insurance is placed on the house after the BK has already discharged? Wouldn't that be a new debt?

I might be in this situation within 6 months or so, so I am trying to plan ahead. I included my house but I am still living in it right now. My BK has discharged already.

[BCA2009]

Forced, placed insurance by a lender on secured property can be your responsibility since the property is still in your name. If you do not provide insurance on secured property on which there is a lien by a creditor (i.e., car, house, etc.), the lender can have insurnace placed on the property and you are resonsible. You will have to find out from the mortgage holder the details of what they did. I am sure you received something in the mail from them, or some sort of notice, as to what they would do if there was no insurance in place.

If it is post BK then it is not the homeowners responsibility to reimburse the bank for forced placed insurance. If it is pre-BK the Bank will add it to what you already owe them. You are still responsible for it. If you are discharged in BK at a later point, then the mortgage debt and the forced placed insurance will both be discharged.

[BCA2009]

What if the insurance is placed on the house after the BK has already discharged? Wouldn't that be a new debt?

I might be in this situation within 6 months or so, so I am trying to plan ahead. I included my house but I am still living in it right now. My BK has discharged already.

In order to incur new debt you must agree to the debt (sign a contract). A bank, nor anyone else can assign you "new debt", just because they want to.

Your liability to the bank has been discharged. If they decide to place insurance on the property, that is totally their decision.

[BCA2009]

I am not saying that you should do this but.........
if you have a discharged BK and the house has been foreclosed.....

unpaid HOA dues will be paid when the lender passes title to the new buyer to avoid a cloud on the title.

lender placed insurance billed to you is discharged in the BK.

I agree, while technically according to some state laws you may still be liable for the HOA fees, unless you are still living there I would just wait for the property to be foreclosed on and the fees will be paid then in order for the new owner to get a clear title.