Legal Question in Business Law in Iowa

If there is storm damage to house and the house is in foreclosure do they keep the money after repairs are complete


Asked on 9/26/11, 4:11 pm

1 Answer from Attorneys

Robert Luedeman solo practitioner

Does who keep the money? It depends on whether the case has gone to judgment. If the foreclosure action is pending and there has been an insurance payout to the owner of record, and the owner has completed all repairs, I don't see why you cannot keep the balance unless there is something on record with the court wherein the lender has asked the court to order the money sequestered.

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Answered on 9/27/11, 7:51 am


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