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Updated about 3 years ago on . Most recent reply

User Stats

3
Posts
1
Votes
Donya Mattis
  • Rental Property Investor
  • Connecticut
1
Votes |
3
Posts

Mortgage Payment on Burnt Property

Donya Mattis
  • Rental Property Investor
  • Connecticut
Posted

Hey everyone, question. If I have a rental property that got damaged by fire, and is going through the process with my insurance company, do I still make monthly mortage payments while its damaged? Do I resume payments after I've rebuilt the property? Or does my mortgage company inform me of what will take place during this period? Any information or feedback would be knowledgeable. Thanks in advance!

Most Popular Reply

User Stats

527
Posts
329
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Carini Rochester
  • Investor
  • Rochester, NY
329
Votes |
527
Posts
Carini Rochester
  • Investor
  • Rochester, NY
Replied

Most insurance policies include money to pay the rent during the rebuilding process. During my two fires in the past few years, Allstate has cut checks for my lost rent. And I absolutely pay the mortgage!

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