Home burned, i have replacement cost , can i get the cash value? - the cost of rebuilding a home in canada
CAN I TAKE actual cash value instead of rebuilding HOME. And if I pay as the cash value of the EEG their mortgage?
The Cost Of Rebuilding A Home In Canada Home Burned, I Have Replacement Cost , Can I Get The Cash Value?
6 comments:
If you take the money, you will be successful in the current cash value (), therefore, less depreciation. If you accept the cash value, then you must repay the loan with the money.
I replace it and sell the house, you get more done.
If you take the money, you will be successful in the current cash value (), therefore, less depreciation. If you accept the cash value, then you must repay the loan with the money.
I replace it and sell the house, you get more done.
If you do have the present value of the mortgage is by check, writes the money from the mortgage insurance. I can promise you that the note was signed, a law that requires you.
The only question is whether your insurance will receive the opportunity to provide a check instead of paying for the reconstruction. Those who can not read his policy not to answer.
The mortgage lender has a lien on the house - they are first paid. You get what remains. What do you want with it is for you. What do you think the insurance company have to build a house? You still have the land, and if the mortgage is large, sells the only way to get money. Perhaps you can work with the mortgage company to put its interests into a new house, but this is not what you want.
Only through this .... I do not know what is their policy, but ..... The mortgage is for the time that is superior to its policy to pay the mortgage, and determine the value is high enough ... This is so complicated .. If you choose this path, the type of insurance, about 85% of the insured value of homes in the damage and the estimation of their peoples .... for the replacement of personal items ... everyone will be detailed by a contractor, and if you take the money, you will not get everything, but receive a share .... If you prefer, you can replace all the elements, but you need to buy things and then on your receipt ... For more information about how it was for us ... Send me an e-mail ... or anything that you speak with your insurance adjuster ... I'm sorry for your loss, and every hope that your family is safe ... This is devistating for all participants and may take several months for any return to normalcy ... take care and be safe
You can take the cash value, but the insurance company will pay the first mortgage, and you will receive the remainder.
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