what bankruptcy does not cover
Bankruptcy thoughts?
We bought a house 2 years ago wich passed all inspections. In a little over 2 years moisture under the house has ruined the floors and the support beams which is causing the house to literally fall in. The house is 7 years old and we already had to hire a lawyer to go after the builders which fell through because they are no longer in buisness. We had two companies come in and they said if they fixed it it could cost anywhere from 15,000 to 25,000 depending on how fast we have the money to fix it. The walls are seperating from the ceiling and the floor has dropped 3 inches down the center of the house. The roof is soon to go. The only choice we have to do is file bankruptcy on it because it soon will not be structurely safe and we cannot afford to fix it. Our insurance company also told us they will not cover it. If we file what will happen and can we file a full bankruptcy? We are soon going to have to move in another house before it caves in. Please help.
Don’t be so quick to give up on your homeowners insurance. I used to work for an insurance company and they would cover things like this but try get the customer to give up when first told ‘no.’
You might talk with your mortgage company and see if they can ‘lean’ on your home owners insurance claim dept. If that fails, contact your state’s board of insurance regulators.
