Posted By: Tillie
Bankruptcy and flood insurance - 01/10/11 08:36 PM
Our borrower has verbally notified us of his intent to file bankruptcy.
Flood insurance on his building expires tomorrow.
Should we and can we start the notification process?
I understand there are restrictions on communicating with a borrower who has filed for bankruptcy but I do not know all the details.
Thanks!
Flood insurance on his building expires tomorrow.
Should we and can we start the notification process?
I understand there are restrictions on communicating with a borrower who has filed for bankruptcy but I do not know all the details.
Thanks!