Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

Another Homeowners Insurance Question

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Another Homeowners Insurance Question

    Our Chapter 7 was discharged in Feb 09. HSBC filed foreclosure a couple of weeks ago. We are moving in September. Our insurance and taxes have always been paid by us, seperate from the mtg (no escrow). I have not paid taxes in two years, but have paid the homeowners insurance monthly. I would really like to cancel and save that $175.00 per month, but am confused by what a lot of people on this forum have said about canceling homeowners insurance.

    One more time, could I get some opinions on this subject. Thanks!!!!

  • #2
    Have you called your insurance agent?

    Comment


    • #3
      speaking with insurance company

      No. It is with USAA and I'm not sure what I should tell them. I would prefer to just say, "I want to cancel my homeowners insurance because we are moving" and leave it at that. Is that possible?

      Comment


      • #4
        Just stop paying. I don't know what the point of calling would be, IMO. They'll cancel automatically anyway and your mortgage company will buy insurance on the house until it's sold. At least that's what I think.

        I stopped paying my homeowners insurance 2 months ago. Only risk of course is anything that happens on your property makes you liable or you can also lose stuff to theft, flood, fire etc. I figure I have lived here and paid insurance for 4 years with nothing happening so I'll risk another couple of months.

        Comment


        • #5
          Originally posted by casdem1 View Post
          Our Chapter 7 was discharged in Feb 09. HSBC filed foreclosure a couple of weeks ago. We are moving in September. Our insurance and taxes have always been paid by us, seperate from the mtg (no escrow). I have not paid taxes in two years, but have paid the homeowners insurance monthly. I would really like to cancel and save that $175.00 per month, but am confused by what a lot of people on this forum have said about canceling homeowners insurance.

          One more time, could I get some opinions on this subject. Thanks!!!!
          As long as the title to the property is in your name, you are responsble. If someone slips and falls and you are not insured if they get injured, you will have more to worry about than the foreclosure. Call your insurance agent and find out what to do - protect yourself because Murphy's Law can hit at any time..."It will go wrong and it will go wrong at the worst possible time.".
          _________________________________________
          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


          • #6
            Now if someone sues you and you don't have home insurance , or if a fire destroys or damages the house (say it is a foreclosed house awaiting a sale, before title changes ), can a BK 7 done after, discharge all of that??

            Comment


            • #7
              Originally posted by Proxy View Post
              Now if someone sues you and you don't have home insurance , or if a fire destroys or damages the house (say it is a foreclosed house awaiting a sale, before title changes ), can a BK 7 done after, discharge all of that??

              If someone falls at your house and gets injured, they maybe have two or so years that they can file a lawsuit against you. So if the event occurs while the house is still in your name without insurance, they can come after you anytime before the statute of limitations runs out for them. Can you wait that long to file BK?
              _________________________________________
              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


              • #8
                Hmmm. . .I wonder if how the situation would change if a "No Tresspassing" sign is put up? Doesn't that remove liability?

                At any rate, STILL call your insurance agent. I called mine and told him what was up (we were leaving the house and it was being foreclosed on). Our insurance was tacked onto our mortgage pmt and I'm pretty sure it expired before the house went into actual foreclosure so I guess we just lucked out.

                Comment


                • #9
                  Originally posted by hnhlvr View Post
                  Hmmm. . .I wonder if how the situation would change if a "No Tresspassing" sign is put up? Doesn't that remove liability?

                  At any rate, STILL call your insurance agent. I called mine and told him what was up (we were leaving the house and it was being foreclosed on). Our insurance was tacked onto our mortgage pmt and I'm pretty sure it expired before the house went into actual foreclosure so I guess we just lucked out.

                  If a "No Tresspassing" sign removed liability, no one would have to purchase homeowner's insurance...it might deter some folks (especially if you put "under video surveillance") but it doesn't remove liability and doesn't mean a thing to a neighborhood kid taking a short cut across your property and may fall over that crack in your walkway or that agent shows up to check on something and falls while looking at the outside of the house over an object left on the lawn.

                  As with anything there is risk...not having homeowner's insurance on a home in one's name and not being there to keep the house in order is a big risk and something to be discussed with the insurance agent.
                  _________________________________________
                  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


                  • #10
                    I had a question about the insurance too. My house has a NOD filed on it with forclosure set for October (I filed bk yesterday so that will probably get pushed out further). I vacated most of my things in June. I go to the house 2x a month to keep up the front yard. Last week I went and the locks were changed. I still have beds, toys, snowboards and garage stuff in there. I called the number on the sticker and they said they would call the mortgage company for permission to let me in. I said they should have sent me a notice and I would have got my stuff out. They lady said they should have done it too.

                    I am current on insurance and hoa dues. I assume that if any of my things are missing that I can make a claim for the theft. Other than that, how can I be liable for and expected to carry insurance on a property I have no access to. I understand legally they can secure the house if they feel there may be a threat - but I moved a couple of blocks away and remain in contact with the neighbors if there is a problem at the house - no threat!

                    Comment


                    • #11
                      Originally posted by Flamingo View Post
                      If a "No Tresspassing" sign removed liability, no one would have to purchase homeowner's insurance
                      A person would need home owners' insurance for fire, theft, and flooding.

                      Comment


                      • #12
                        Originally posted by hnhlvr View Post
                        A person would need home owners' insurance for fire, theft, and flooding.
                        LOL! Thanks hnhlvr...I was referring to the liability for someone getting hurt on the property to the other poster...that a No Tresspassing sign would not remove any liability and if it did, no one would need homeowner's insurance for that purpose. Of course it would be needed to cover catastrophic events and to go without it while a property is in one's name is a big risk/gamble.
                        _________________________________________
                        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


                        • #13
                          Originally posted by hurtininaz View Post
                          I had a question about the insurance too. My house has a NOD filed on it with forclosure set for October (I filed bk yesterday so that will probably get pushed out further). I vacated most of my things in June. I go to the house 2x a month to keep up the front yard. Last week I went and the locks were changed. I still have beds, toys, snowboards and garage stuff in there. I called the number on the sticker and they said they would call the mortgage company for permission to let me in. I said they should have sent me a notice and I would have got my stuff out. They lady said they should have done it too.

                          I am current on insurance and hoa dues. I assume that if any of my things are missing that I can make a claim for the theft. Other than that, how can I be liable for and expected to carry insurance on a property I have no access to. I understand legally they can secure the house if they feel there may be a threat - but I moved a couple of blocks away and remain in contact with the neighbors if there is a problem at the house - no threat!
                          Find your homeowner's policy and read it or call your insurance agent and ask directly. Your mortgage documents also will have information stating what they can and will do when you don't pay. Review the papers you signed when you took on the mortgage as to what they can do when you don't pay and move out. It appeared they are treating it as you abandoning the property and are going by state laws as to what they can do and you need to find out from your insurance agent if you will be able to get back in there and get your items.
                          _________________________________________
                          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


                          • #14
                            Originally posted by Flamingo View Post
                            LOL! Thanks hnhlvr...I was referring to the liability for someone getting hurt on the property to the other poster...that a No Tresspassing sign would not remove any liability and if it did, no one would need homeowner's insurance for that purpose. Of course it would be needed to cover catastrophic events and to go without it while a property is in one's name is a big risk/gamble.

                            lol I actually began googling what would happen re: liability if there is a "no tresspassing" sign and someone was injured in the yard, but decided to go get some housework done instead. . .lol so that was my quick reply. It seems that I did read somewhere that a sign will negate any liability.

                            Anyhow, it *does* make most sense to call the agent, not ask us.

                            I called mine about my insurance and then months later he called me and told me I had a refund check coming! It's best to remain in contact with involved parties.

                            Comment


                            • #15
                              Originally posted by Flamingo View Post
                              As long as the title to the property is in your name, you are responsble. If someone slips and falls and you are not insured if they get injured, you will have more to worry about than the foreclosure. Call your insurance agent and find out what to do - protect yourself because Murphy's Law can hit at any time..."It will go wrong and it will go wrong at the worst possible time.".
                              I have heard you say this a million times in these forums and I just wanted to ask you what your background is and where you are getting your information? I'm not saying your wrong, but I would like to validate what your saying is true. thx

                              Comment

                              Unconfigured Ad Widget

                              Collapse
                              Working...
                              X