What happens if a home goes into foreclosure while rebuilding after a house fire?
There is approximately 40 – 45K left from the insurance company that is being held by the mortgage company. This person hasn’t paid their mortgage since December and it is going into foreclosure unless someone can help him out. What happens to this money that the mortgage company is holding? Does it go towards the foreclosure (paying off the mortgage) or does it go back to the insurance company?