If I'm behind on my mortgage do I still have home insurance coverage?
Total Comments: 3
Posted: Sun Dec 06, 2009 01:17 pm Post Subject:
Depends..is your HO policy paid thru your mortgage? If so you're probably ok, just because you pay that escrow account months, doesn't mean that's when the premium is paid. Typcially the premium is paid from your escrow account once a year...So when did you purchase the house (month)?
Posted: Mon Dec 07, 2009 05:58 am Post Subject:
When you purchase a house, you normally paya years worth of insurance and at closing you pay at least of few months of escrow for the following year. Then monthly escrow payments are made. You would have to be really behind to be out of insurance.
Posted: Mon Dec 07, 2009 09:11 pm Post Subject:
If you don't pay your insurance via your mortgage though you could have a probelm, then again you'd probably know if you were paying separately for you house insurance!
Posted: Sun Dec 06, 2009 01:17 pm Post Subject:
Depends..is your HO policy paid thru your mortgage? If so you're probably ok, just because you pay that escrow account months, doesn't mean that's when the premium is paid. Typcially the premium is paid from your escrow account once a year...So when did you purchase the house (month)?
Posted: Mon Dec 07, 2009 05:58 am Post Subject:
When you purchase a house, you normally paya years worth of insurance and at closing you pay at least of few months of escrow for the following year. Then monthly escrow payments are made. You would have to be really behind to be out of insurance.
Posted: Mon Dec 07, 2009 09:11 pm Post Subject:
If you don't pay your insurance via your mortgage though you could have a probelm, then again you'd probably know if you were paying separately for you house insurance!
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