QUESTION
Is my insurance still valid if I did not reaffirm?
Asked on Jun 21st, 2017 on Bankruptcy - Wisconsin
More details to this question:
This may be a bit complicated to explain. My mortgage and deed are in my married name. I filed bankruptcy and did not reaffirm. I have been paying the mortgage in the 13 years since filing bankruptcy. My current homeowner’s insurance policy is in my now legal (maiden) name, meaning the last name is different than what is shown on my mortgage. Can the services, BOA, say that I do not have a valid policy and take my home? I have had the policy for several years.
5 ANSWERS
Have you got your insurance agents phone number? Why not call your insurance agent and make this change to your name on the policy? While having a former name on your policy will not make it ineffective, it is sort of a foolish thing to avoid correcting.
Answered on Sep 11th, 2017 at 10:28 PM
You should be fine, however, I would encourage you to meet with a lawyer. Pay for the consultation.
Answered on Sep 11th, 2017 at 10:27 PM
1 Award
No, you have insurance. Just make sure you have provided proof of insurance to the bank.
Answered on Sep 11th, 2017 at 10:27 PM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Is the mortgage being paid? You can request a statement of your escrow account from the bank.
Answered on Sep 10th, 2017 at 7:18 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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So long as you make the required payments (very important) and keep insurance in force, the lender is highly unlikely to care what signature is on the checks.
Answered on Sep 10th, 2017 at 8:03 AM