Contact the State Agency that governs lending institutions. The name of the agency varies greatly from one state to another so you'll have to do a little local research but it should be quite easy. That seems a lot like fraud and you should go after these people as soon as possible, but it's also possible that it's just an oversight. In any case, take care of it now.
Cenlar is a subservicing company. A company that provides mortgage subservicing will collect your monthly mortgage payments and maintains your escrow account for tax and insurance payments. Many banks use them to handle the maintenance of their mortgage loans.
NO, not unless it is a total loss. If your house is being repaired by your insurance policy you must continue to make your mortgage payments.
Endorse the check & send it to your Mortgage company. They will decide how much you get from it.
The term Mortgage Insurance can mean different things to different people and in a variety of situations. I have heard it refer to life insurance designed to pay off a mortgage balance due to death of an insured person. another type of Mortgage Insurance is products such a PMI, which indemnifies a bank or mortgage company in the case of a default on a mortgage loan. In this type of mortgage insurance the person who takes out the loan pays the premiums through their house payments, but will not receive any benefit from the insurance as the only one who gets paid is the bank or mortgage company. The insurance company can then still come after the borrower for the amount of their loss.
Call the mortgage company and ask why the payments are not being reported (its illegal to NOT report payments) Further, you can call the credit bureaus, and they will request the information from the mortgage company. Realize, that in some instances credit reporting can be suspended.
Account impounding is an accounting term used to describe an account that is maintained by a mortgage company. This account collects hazard insurance, property taxes, private mortgage insurance, and other required payments.
The real beneficiary from a mortgage insurance claim is ultimately the insurance company that provided you with the mortgage insurance in the first place.
Some Canadian mortgages do charge a premium for mortgage default insurance. If a mortgage company includes this type of premium in the mortgage, they are obligated by law to disclose the amount to the borrower.
Most likely it will depending on what the mortgage company's policy is. The insurance policy is purchased at one time during the year, therefore it will be in place even though you are behind in mortgage payments. If your mortgage payment includes a prorated portion of the annual insurance policy and you are behind in payments at the time rewal of the policy comes up, the mortgage company will likely pay for the policy using the accumulated reserves from the past months and paying the remaining amount for you. The bank will simply charge you later when you catch up on payments or add it to the amount due in a foreclosure action. The bank protects its own interests this way too. But you should see if your mortgage bank has a policy of paying only that portion of the premium that protects the house and land and not the contents. Also check with the homeowners' insurance company and read your policy.
This depends on what you mean by mortgage insurance. If you are talking about products like PMI (Premium Mortgage Insurance) look on your escrow billing and it will be listed. If you are talking about a life insurance policy that would be either through credit life with your mortgage company or separately through an insurance company.
If you have mortgage insurance that covers the reason of your income loss (disability, involuntary unemployment) then the insurance company will pay the premiums according to your policy's benefits schedule. If you don't have mortgage insurance, you can use savings, retirement funds, borrow money, or you can try to negociate your mortgage terms with your lender. Unfortunately, many mortgage clients believe they don't need mortgage insurance and they find themselves forced to file for bankruptcy and lose their home if something happens. The PMI (private mortgage insurance) will protect your mortgage payments and help you keep your home!