if I'm paying a mortgage and have insurance, and a hurricane destroys my house will the insurance company pay my mortgage company the rest of the balance on the mortgage? Do I get back anything I paid into the house (equity)? What happens if I refuse to pay the mortgage company after a storm destroys my home, they can't foreclose on a house that is not there.
Added (1). is it likely I would be sued and expected to pay on a house that is no longer there
Added (2). what is the minimum credit score I need to be approved for a mortgage? Do most mortgage companies use Transition or Equifax? Experian?
Added (3). Transunion
Added (4). I'm planning on moving soon
Read more: Can I get home owner's insurance if I do not yet own the home but am paying a mortgage?
