Legal Question in Consumer Law in Oklahoma

refinanced home

my father refinanced their home a few years back and when he did so he add the insurance that will pay off the home in the event of his death. unfortunatly he passed away but before he did the company he financed the home through went bankrupt and sold the loan to another company which claim they do not carry or honor that insurance. is this legal if they assume the loan they should assume it as it is or can they remove items such as the insurance


Asked on 7/21/08, 2:57 pm

4 Answers from Attorneys
James Grissom Law Office of James P. Grissom

Re: refinanced home

If the premium was paid, then somebody has the policy. If you would like my assistance in this matter, please contact me by email.

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Answered on 7/21/08, 3:02 pm
Donald McLeaish McLeaish&Associates;, P.C.

Re: refinanced home

If the insurance was bought, the State Guaranty Fund will pay in case of a bankrupt company...and if it was not bought, then the lender may be liable...Call us, we would arrange for a reasonable fee..and prompt action

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Answered on 7/21/08, 4:08 pm
Donald McLeaish McLeaish&Associates;, P.C.

Re: refinanced home

If the insurance was bought, the State Guaranty Fund will pay in case of a bankrupt company...and if it was not bought, then the lender may be liable...Call us, we would arrange for a reasonable fee..and prompt action

Read more
Answered on 7/21/08, 4:08 pm
Donald McLeaish McLeaish&Associates;, P.C.

Re: refinanced home

If the insurance was bought, the State Guaranty Fund will pay in case of a bankrupt company...and if it was not bought, then the lender may be liable...Call us, we would arrange for a reasonable fee..and prompt action

Read more
Answered on 7/21/08, 4:08 pm


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