PHOENIX - With thousands of damage reports across the Valley from recent storms, there is some concern what repairs will be made and when homes impacted by foreclosure can expect to be fixed.
ASU real estate expert Jay Butler said it is uncharted territory in a lot of ways, where it is possible that some homes won't get repaired as quickly.
Ron Williams with the Arizona Insurance Council said that generally speaking banks carry coverage on the homes they have taken back. One area of concern however would be homes that have been damaged prior to the foreclosure being finalized.
"If you are walking away from a home you are still responsible for the damage that occurs prior to the foreclosure," he said. Williams recommends that even in situations where homeowners have walked from their property that they continue paying their insurance premium.
Unfortunately he said that the economy has caused many homeowners to miss payments and lapse even on the homes they are living in.
He said there are plenty of ways to save on home insurance.
