Payment of homeowner insurance premiums are still required even after a home has been foreclosed or is in the foreclosure process, if the home is going to stay insured. Lenders often create escrow accounts to ensure that policy premiums are collected along with the mortage payments. 

Homeowner's polcies require lienholders such as your mortgage lender to be listed as additional payees under the policy.  The effect of this is that the mortgage lender will be listed as a payee on claims payments for repairs to your home.  Mortgage lenders have rules in place for disbursement of such claims proceeds.  You will need to consult your specific lender to determine the disbursement rules in place.

If your home is in foreclosure when you receive a payment on your claim for repairs to your home, the mortgage lender may be able to apply the claims payment to monies due under the mortgage as opposed to disbursing the proceeds to the homeowner for repairs.  Review of the contolling mortgage documents will be necessary to determine the parties rights to the claims proceeds. 

You can reach Miami Insurance Claims Lawyer J.P. Gonzalez-Sirgo by dialing his direct number at (786) 272-5841, calling the main office at (305) 461-1095, or Toll Free at 1 (866) 71-CLAIM or email Attorney Gonzalez-Sirgo directly at [email protected].

J.P. Gonzalez-Sirgo
J.P. Gonzalez-Sirgo, P.A.
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