Law360, New York (July 12, 2012, 1:24 PM ET) -- In this new economic era, many insurance litigators are encountering post-loss foreclosures. A post-loss foreclosure is a foreclosure that occurs after a loss, which can be while an insurance claim is pending.
A post-loss foreclosure can impact the interests of the insured and the mortgagee, change the method of loss valuation, and affect the insurer’s ultimate liability. Evaluating these issues under the applicable state law is critical to advising your clients of their rights and how to protect them.
Check the Mortgage Agreement
Many mortgage agreements...
Navigating Post-Loss Foreclosures
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