What is the name of your state (only U.S. law)? NC
I have been owner financing a house under a contract for deed for about 2 1/2 years. Three months ago the purchasers moved out and stopped paying their mortgage. They also let the insurance lapse and did not pay the annual taxes when due. They have ignored my attempts to contact them and I am beginning the foreclosure process. My concern is that this property does not have insurance at present and because I am not the owner of record at the moment I cannot find an insurance company that will cover the home. I know with the glut of foreclosures on the market, there must be companies that handle these types of policies. Any suggestions would be greatly appreciated.
I have been owner financing a house under a contract for deed for about 2 1/2 years. Three months ago the purchasers moved out and stopped paying their mortgage. They also let the insurance lapse and did not pay the annual taxes when due. They have ignored my attempts to contact them and I am beginning the foreclosure process. My concern is that this property does not have insurance at present and because I am not the owner of record at the moment I cannot find an insurance company that will cover the home. I know with the glut of foreclosures on the market, there must be companies that handle these types of policies. Any suggestions would be greatly appreciated.