I have property in Colorado.3 parcels the house is on one have a reverse mortgage. The house went on fire I had no insurance but the insurance co did. they received the check and now put us in foreclosure for the remaining balance. The deed has all 3 lots on it but we pay taxes sep for all 3.Does the mortgage co own all 3 lots now.They paid taxes were the house was and we just paid the taxes for the other 2.i think I should have not paid taxes on the other 2.
The mortgage company doesn't own anything until the foreclosure sale. After foreclosure the mortgage company or other bidder will own all property covered by the Deed of Trust. You have to read the Deed to Trust to figure out whether it applies to one parcel or three.
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