Legal Question in Wills and Trusts in Alabama
my house burned down one day before I was to move out because it was foreclosed. Is my insurance company responsible for the replacement cost?
Asked on 1/10/11, 5:21 pm
1 Answer from Attorneys
Kyla Kelim
Aging in Alabama
If the insurance was current, yes. You are in a good position to negotiate with the bank in this case, and regain your property, however, the bank will likely get most of the money you could use to rebuild. It is worth exploring to set aside the foreclosure if possible. Contact an attorney in your area knowledgeable about foreclosure and insurance laws.
Answered on 1/21/11, 11:36 pm