probably depends on the state - but I believe they can do that yes - consult an attorney
Yes, I have completed an insurance check with my mortgage company.
No, I have not received the home insurance claim check from the mortgage company yet.
To ensure your mortgage company is included on your insurance check, you should contact them and provide them with the necessary information for the insurance company to list them as a payee on the check. This ensures that the mortgage company can endorse the check and release the funds for repairs or rebuilding.
You check to see if you purchased mortgage insurance.
Endorse the check & send it to your Mortgage company. They will decide how much you get from it.
Yes, I have completed an insurance check with my mortgage company.
No, I have not received the home insurance claim check from the mortgage company yet.
To ensure your mortgage company is included on your insurance check, you should contact them and provide them with the necessary information for the insurance company to list them as a payee on the check. This ensures that the mortgage company can endorse the check and release the funds for repairs or rebuilding.
You check to see if you purchased mortgage insurance.
Endorse the check & send it to your Mortgage company. They will decide how much you get from it.
One way is to check with the lender. Most lenders have affiliations with mortgage life insurance companies to provide this service and in most cases the insurance premium is included in the mortgage payment.
Your mortgage company is listed on your insurance check because they have a financial interest in your property and want to ensure that any repairs or damages are properly addressed to protect their investment.
The mortgage company is listed on your insurance check because they have a financial interest in your property and want to ensure that any repairs or damages are properly addressed to protect their investment.
Actually, you may not have to go as far as refinancing to remove the mortgage insurance. If you have paid down the principle and have equity, you may have reached the percentage where your lender does not require mortgage insurance. Check with your lender and read your note to see where you stand.
It depends on your mortgage company's policies. Some mortgage companies may endorse your insurance check, while others may require you to use the funds to repair the property. It's best to contact your mortgage company directly to find out their specific requirements.
Yes. You should ask your lender. You should also check out a simple term life insurance policy in the amount of the mortgage. It may be less costly.Yes. You should ask your lender. You should also check out a simple term life insurance policy in the amount of the mortgage. It may be less costly.Yes. You should ask your lender. You should also check out a simple term life insurance policy in the amount of the mortgage. It may be less costly.Yes. You should ask your lender. You should also check out a simple term life insurance policy in the amount of the mortgage. It may be less costly.
In some mortgages insurance is included in the payment, but in others it isn't. If you don't know what you have you need to check.