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Updated over 10 years ago on . Most recent reply

User Stats

137
Posts
33
Votes
Gabe K.
  • Huntington Beach, CA
33
Votes |
137
Posts

Lender insurance claim question

Gabe K.
  • Huntington Beach, CA
Posted

Hi Fellow Note Investors,

I have a note on a house where a wall caved in and I filed an insurance claim (in process).  However, we are at the end of the foreclosure and the house is going to sheriff's sale very soon.  My questions are:

1) If the house goes to sheriff's sale before the claim is finished do we still get the insurance proceeds?

2) If I sell the note now, who gets the insurance proceeds when the claim is settled?

Thank you.

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