House Damaged in Hurricane
My house was recently very badly damaged in Hurricane Michael. I just received the settlement numbers from the insurance company, which is significantly above what I owe on the house. The check will be made out to me and the mortgage company. Does anyone know what my options are? Do I have to fix the house? Can I pay off the mortgage and keep the rest? Can I sell the house? How would any of these scenarios affect my taxes? If I do fix it, I will probably just turn it into a rental. Any input/advice would be greatly appreciated. I honestly have no idea what I want to do or what I should do.
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