http://www.reddeerrealestatelink.com/what-happens-to-my-mortgage-if-my-condo-is-condemned/ Tue, 05 Apr 2011 20:33:22 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.reddeerrealestatelink.com/what-happens-to-my-mortgage-if-my-condo-is-condemned/comment-page-1/#comment-2858 Landlord Tue, 27 Apr 2010 19:12:53 +0000 http://www.reddeerrealestatelink.com/what-happens-to-my-mortgage-if-my-condo-is-condemned/#comment-2858 Nothing happens to it, you are expected to pay it off. Since natural causes are covered by your insurance this will not be a problem, just send in the claim. Nothing happens to it, you are expected to pay it off. In view of the fact that natural causes are covered by your insurance this will not be a problem, just send in the claim.

]]> http://www.reddeerrealestatelink.com/what-happens-to-my-mortgage-if-my-condo-is-condemned/comment-page-1/#comment-2857 Baby #1 on 12/10/08 Tue, 27 Apr 2010 18:23:16 +0000 http://www.reddeerrealestatelink.com/what-happens-to-my-mortgage-if-my-condo-is-condemned/#comment-2857 The mortgage stays just as it is. Now, the homeowners insurance policy that you're required to have will pay out up to the amount of the casualty/loss coverage. The casualty/loss coverage should be at an amount that would cover full loss of the home, but in the even it doesn't, you'll still owe the bank what your insurance doesn't cover. The finance stays just as it is. Now, the homeowners insurance policy that you’re required to have will pay out up to the amount of the sufferer/loss coverage. The sufferer/loss coverage should be at an amount that would cover full loss of the home, but in the even it doesn’t, you’ll still owe the bank what your insurance doesn’t cover.

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