[ex-Texan]

What other choice does the lender have? Assuming that the insurance claim will be denied, is the victim going to pay the cost of rebuilding? Assuming again, that the matter will be litigated over the next four years, what are the lender's fiduciary obligations to its stockholders? Corporate officers will most likely demand that the property be foreclosed and the lot be sold to the highest bidder or that a new home be built for sale on the lot. In the meantime, the victim remains liable to the bank for making payments. Without a new reform of the Bankruptcy Act, the victim is SOL.

[RockinRight]

I knew the Bankruptcy Act was too restrictive.