Quote:
Originally Posted by amorak
I know that, I was discussing a different type of policy. See, if a condo burns down and they decide to rebuild, you are still repsonbile for your mortgage payments, which is a big deal seeing as how it would take 1-2 years to rebuild.
I was asking if there is a special insurance that covers the payments while the condo is rebuilt.
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Ahhh gotcha, that would indeed be a nice piece of coverage to have, but it doesn't seem like something most basic policies would cover.
Plus, Im sure that's something the bank isn't going to
require for a mortgage. Why do they care if you're out of a home for a year or so? As long as they're getting paid and the building is being rebuilt, alls well for them.