Found an insurance company to insure my foreclosure home ...

[tobee43]

yes once we moved out we longer had to keep insurance or required to do any maintenance what so ever...no taxes..etc.

if someone falls on the ice and cracks their head opens it's the banks problem even tho we are still on the deed...that's just a technicality the bank has not taken care of.

any and all cost whether one is in a judicial or non-judicial state...those cost are in effect passed on to your bank in the form of liens against the property...when the property resales...those liens are passed on..and are pd by the new owner in a foreclosed property....including any fees the bank can squeeze out of the buyer.

[debee]

Thanks for this link. It was a real shock when I learned (here from ccsjoe) that I would need liability insurance AND still be responsible for mowing the lawn, and whatever other city codes required observance. It stinks! I really wish it wasn't true and will also be awake at night worrying about it.

[hillaryg]

Nope we aren't there. we were advised by our attorney to keep the insurance ($52 mo) due to the fact that if someone falls on the property or breaks in then we are responsible. I can't wait to cancel it!

[AbbeyA]

We are currently still living in the house, but will be moving in the next few weeks. The sheriff sale was held on October 12th, but there is no confirmation of sale hearing set at this time so the deed will still be in our names for a little bit longer. The mortgage was included in the bk and discharged, but we are liable if anything happens on the property until the deed is not in our name. We're just not willing to let the insurance lapse and be on the hook for something. You know how some people have really bad luck? That's us lately ... just this morning the transmission went out on our minivan (we have 4 kids) and my dh's car won't start today. So as luck would have it, some kid would go in our back yard and swing on the swing set and break his/her neck and we'd be in even worse shape. I can sleep at night now knowing that the property will be insured until we no longer own it.

[tobee43]

are you still IN the house...if so i understand why your insuring it...if NOT...like we vacated and then surrendered at bankruptcy, however, had not lived in it for almost 2 years....well here it is 2.7 years later and the bank still has not foreclosed and i haven't pd one dime on any insurance or anything else....my bk was discharged and i no longer have any financial obligation to the house.

but, like i said...if you are still in there and living, i understand your reasoning.

[hillaryg]

good to know,... thanks.
i got a notice from allstate (my homeowners insurance) that they did an inspection (house is vacant) and i needed to call. i called and they said "oh we're just making sure we had your correct address" i said "but i got something about an inspection?" she said "oh just if the home is in bad shape or abandoned we like to know but you are fine" um... ok not mentioning i am not there!

[AbbeyA]

One thing -- on the website, it says they only cover homes in certain states. I am in Illinois and was able to get covered. So I don't know if the website needs to be updated or if it had something to do with the insurance agent getting the policy for us.

[Panacea]

Thank you for the info!

[AbbeyA]

Our home is in foreclosure ... bottom line, State Farm found out about the foreclosure and canceled our homeowners insurance plan. So today we were able to get coverage on the home until the deed is transferred out of our names through Foremost Insurance Co. They also insure vacant homes.

We had an independent insurance broker find coverage for us and this is the only company that will insure a home in foreclosure/for people with poor credit or a recent bankruptcy. Their website is http://www.foremost.com/

I am very relieved to have this plan in place and grateful that there is an insurance company out there that recognizes a significant need/niche for so many of us out here drowning in the mortgage meltdown crisis. The last thing we need is to have something happen to someone on our property and we are liable for it. There was someone who posted a while back in one of the insurance threads about finding insurance through this company on her home while it was in foreclosure as well.