What Happens To Your Mortgage If Your House Is Destroyed | Episode 42

The David Greene Show

David Greene

Entrepreneurship, Business

5 • 653 Ratings

🗓️ 24 March 2025

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Summary In this episode of Mortgage Monday, hosts David Green and Christian Baschelder discuss the implications of mortgage obligations when a home is destroyed, particularly in the context of natural disasters. They explore the importance of homeowners insurance, specifically loss of use coverage, and the options available to homeowners in the event of catastrophic loss. The conversation also touches on the potential for foreclosure and credit implications if mortgage payments cannot be met. Finally, they provide advice on managing insurance and taxes effectively. Chapters 00:00 Introduction to Mortgage Monday 03:04 Understanding Mortgage Obligations After a Disaster 05:53 Insurance Coverage and Loss of Use 09:13 Navigating Foreclosure and Credit Implications 11:05 Advice on Insurance Management Podcast: The David Greene Show Spotify, Apple Podcasts Book a session with David: [email protected] Ask a Question: DavidGreene24.com/ask Find me on the “Minnect” app Real Estate University: SpartanLeague.com Join my Free Newsletter: Davidgreene24.com/textletter Finance Your Real Estate: TheOneBrokerage.com Intake@TheOneBrokerage @theonebrokerage Free Textletter: DavidGreene24.com/join STR Management: [email protected] Investor Retreat: DavidGreene24.com/retreat Subscribe to The David Greene Show! Apple: https://podcasts.apple.com/us/podcast/the-david-greene-show/id1755485708 Spotify: https://open.spotify.com/show/5Nu6kCJTVzM2x2WsujqBOZ Submit your question for David: https://davidgreene24.com/ask

Transcript

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0:00.0	What's going on, everyone? I'm David Green, host of the David Green show. I'm here with Christian
0:04.4	Bachelder, my partner in the one brokerage and the broker of the one brokerage. And this is
0:09.4	Mortgage Monday, the show where we bring you relevant insights, data, news, and facts that are going
0:16.0	on in the industry to help you make better financing decisions for your real estate. Christian,
0:20.3	how's it going over there?
0:21.9	It's good. This can be a fun episode. I'm going to talk to you as Christian, the insurance broker
0:25.4	instead of Christian, the mortgage broker. So we'll have a little bit different stance on advice on this
0:30.8	episode. It'll be a fun one. That is right. He's a man of many, many talents. In fact, we actually
0:35.0	were very close to starting an insurance brokerage of our own.
0:38.4	And then the insurance industry went absolutely knucking futs, if you don't mind me saying so.
0:44.4	Stop that from occurring. But we hope one day to be able to offer insurance as well as mortgages
0:50.5	and hopefully in the future, real estate brokerage for agents to hang their licenses at so
0:55.3	he and I are working on that as if we don't have a bunch of other things we're working on but
0:58.8	once we are licensed and different states we're just so bored we're ready to start new companies right
1:02.5	yeah that's exactly right I have nothing to do christians growing out of beer just to entertain himself
1:07.6	but one of these days when we stop being lazy, we will start a brokerage
1:11.2	and we'll be having agents that can come as well as loan officers and offer insurance. And we
1:15.7	will be real estate mortgage and insurance, the one brokerage where we provide it all. Today,
1:21.0	we are going to be talking about what happens to your mortgage if your house is destroyed.
1:25.6	We saw this on NerdWall wallet. I thought it was fascinating.
1:28.8	Christian agreed. Let's talk to the people who have a mortgage about what happens if their house
1:34.1	gets destroyed. Yeah, really, really current event driven, especially with obviously all the
	...

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