Our house burned down two months ago---gutted and totaled. (As declared by the insurance adjustor---the report from the fire dept. went
To the insuiers within a week of the fire.

The mortgage company says we are obligated to make two more months of payments that were due AFTER the fire.?

This sounds to me nonsensical!

Makes perfect sense to me.

You took out a loan to pay for the house and property... by the requirements of any bank I know... you had to have insurance on the house.

Now the insurance will pay to rebuild the house... you still have the property... at least as long as you continue to pay the bank.

Why do you not think you should pay the people you borrowed the money off. Its not THEIR fault the house burned down... and you DO still owe them the money.

Yep, got to pay, the loan is still in force until the bank has been repaid. O don't understand the 2 more months part. It is until the loan is paid off, could be 30 years more

ArnieH disagrees : I neglected to inform you tht we had "forced" mortgage insurance on the house. The property the house is on is already paid for. I believe this might affect your answer.

Please read the rules that apply to giving disagree's.

May answer was factual based on the information you provided.

My answer did not change even with the extra information you provided in your disagree.

YOU borrowed money from the bank. THEY are entitled to as you say "Force" you to take insurance on it as THEY have a major investment at stake... and its your responsibility to take every step to preserve their investment.

Doesn't matter if YOU own the property or not... and I'll bet if you check... they have a lean against it for the mortgage. You don't pay them... kiss your credit rating goodbye. Kiss your property good-bye. And basically... all but kiss good-bye any chance to borrow money at a fair rate for some time to come.

I stand by my original statement... YOU borrowed money. YOU are OBLIGATED to pay it back in full, Both by contract and by law.

If that's not clear... look at it this way. You sell a car to a guy down the steet. He agrees to make payments to you for 3 years every month. But he totals the car two months later, and decides he doesn't have the car and doesn't feel he has to pay the rest of the money back to you since he no longer a car he can drive.


How is that any different?