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A property loss draft is a check issued for covered property lost. The draft or check comes from the homeowner's insurance company. This service should be listed on your policy.

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Q: What is property loss draft service?
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A loss draft inspection is an inspection conducted by your mortgage company to verify that the homeowner is repairing the property according to the Adjusters Worksheet that was provided to the homeowner along with the claim check by the homeowners insurance company as a results of damages to the home. The inspection is usually done in stages, commonly 30%, 30%, 30, 10% as an example. The mortgage company will then release more funds to the borrower as the repairs progress. For more detailed descriptions to the loss draft process please visit ourbrokenhouse.com


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The loss draft inspection will on most occasions be paid for by the mortgage company. On the rare occasion that the homeowner has to pay for the inspection the cost will be minimal and most likely will be taken out of the funds that are in the restricted escrow. For more detailed descriptions to the loss draft process please visit ourbrokenhouse.com


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