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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 30897
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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As follow up to my last question, I have a new question. Through

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As follow up to my last question, I have a new question. Through the bankruptcy process, how obligated am I to continute paying real estate taxes and homeowner's insurance? Currently, both are included with my mortgage payment as well as a PMI payment. Could you please recommend me what to do?
Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney. Thanks for your question.

If you are planning on trying to keep the house, then you definitely need to keep the insurance and taxes paid up.

But, if you don't plan on keeping the property, it is generally not necessary to pay the taxes. HOWEVER, it is a good idea to keep your insurance paid up just in case something happens to the property until it is foreclosed on. If you don't pay the insurance, your lender can get what is called "force-placed" insurance, which would insure the property, but the lender can sometimes seek the cost of that from you (as it is a post-petition debt). Thus, you're usually better off keeping that paid yourself.

The property taxes will be paid by the lender at foreclosure, so you generally don't have to worry about that.
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