Home OWners insurance (foreclosure, sale, more expensive, lender)

[boob73]

If you know your going to go in foreclosure, when should you cancel your home insurance? And also, if you use the same company/policy for home and auto, what do you need to do with that?


Thanks

[2bindenver]

Cancel the policy on the date of the foreclosure. You'll then pay more for your auto insurance.

Why let the home go in a foreclosure sale when there are other options?

[jm1031]

Don't cancel your homeowners policy before the foreclosure is complete. The lender will add the cost of insuring the house from the date you cancel until the date of the foreclosure to the amount you owe them ... and that insurance may be a lot more expensive than what you have now!