I'm a junior bene who took the property to Trustee Sale Friday and no one bid, so now it's mine. This is a first actually going to sale, so not sure what to do about the insurance. I was named as a lien holder before, but now want to make sure if anything happens I am covered, not the previous owner. It is still occupied for now by the foreclosed homeowner. What's the best/easiest way to get insured without causing any problems with what is currently in place? (property is in LA County). http://www.foreclosureforum.com/board/read.php?2,1721,1721#msg-1721 Sun, 17 May 2026 23:06:54 -0700 Phorum 5.2.15a http://www.foreclosureforum.com/board/read.php?2,1721,1723#msg-1723 http://www.foreclosureforum.com/board/read.php?2,1721,1723#msg-1723 TJ Foreclosure Forum Wed, 21 Oct 2015 07:42:59 -0700 http://www.foreclosureforum.com/board/read.php?2,1721,1722#msg-1722 http://www.foreclosureforum.com/board/read.php?2,1721,1722#msg-1722
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TJ,

I’m going to assume you’re inquiring about fire/liability insurance coverage…not title insurance coverage.

Since you are now the property owner you’re entitled to buy your own fire/liability insurance coverage on the premises, naming yourself as the insured beneficiary.

It’s highly likely, given the foreclosure situation, that the previous homeowner let his insurance coverage lapse. If that’s the case then the 1st lien holder would have put a “forced insurance” policy in place that just covers their loss exposure in case of a fire or some other damage occurring while their loan is still extant.

I’d pay for the insurance coverage on a monthly basis, just in case your ownership is short-lived because of the impending trustee’s sale by the foreclosing 1st.]]> Ward-CA Foreclosure Forum Tue, 20 Oct 2015 09:01:21 -0700 http://www.foreclosureforum.com/board/read.php?2,1721,1721#msg-1721 http://www.foreclosureforum.com/board/read.php?2,1721,1721#msg-1721 TJ Foreclosure Forum Mon, 19 Oct 2015 14:21:17 -0700