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What else can I help you with?
How can I ensure that my mortgage company is included on my insurance check?
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.
Will my mortgage company endorse my insurance check?
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.
Can mortgage company hold insurance fund if you are deliquint?
According to paperwork we received from our mortgage company regarding the release of insurance funds, we must keep our loan current. So, yes.
Are mortgage company required by law to release all of the insurance fund?
After you suffer a loss to your building, the insurance company will send the settlement check to your mortgage company, because they technically own your home. With that said, they want proof that the repairs are going to be done. Some mortgage companies will turn the funds over to you with a written estimate, while others may deliver partial funds to you as repairs are completed. They are required to release the funds to you because you own the insurance policy, not them. If you are having trouble getting the funds released, communicate the situation with your adjuster for advice. A good insurance adjuster may communicate with the mortgage company to assist you. See the attached link for details on settling a loss.
Can a mortgage company keep the unused portion of insurance claim money when the job is completed and inspected?
According to the person I spoke with at the Texas Department of Insurance (as this answer may vary with each state), the answer is no. The money belongs to the homeowner. The mortgage company must release the funds when the homeowner satisfies the requirements of the mortgage company, usually this is signed documents, contractor's invoice, and an inspection. Theoretically the mortgage company should then release the funds to the contractor and the homeowner. (Theoretically b/c our mortgage company comes up with something new they need every 2 weeks. We've been fighting for our money for 10 weeks now. So good luck!)
How can I ensure that my mortgage company is included on my insurance check?
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.
Can mortgage company hold insurance fund if you are deliquint?
According to paperwork we received from our mortgage company regarding the release of insurance funds, we must keep our loan current. So, yes.
Will my mortgage company endorse my insurance check?
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.
Are mortgage company required by law to release all of the insurance fund?
After you suffer a loss to your building, the insurance company will send the settlement check to your mortgage company, because they technically own your home. With that said, they want proof that the repairs are going to be done. Some mortgage companies will turn the funds over to you with a written estimate, while others may deliver partial funds to you as repairs are completed. They are required to release the funds to you because you own the insurance policy, not them. If you are having trouble getting the funds released, communicate the situation with your adjuster for advice. A good insurance adjuster may communicate with the mortgage company to assist you. See the attached link for details on settling a loss.
Can a mortgage company keep the unused portion of insurance claim money when the job is completed and inspected?
According to the person I spoke with at the Texas Department of Insurance (as this answer may vary with each state), the answer is no. The money belongs to the homeowner. The mortgage company must release the funds when the homeowner satisfies the requirements of the mortgage company, usually this is signed documents, contractor's invoice, and an inspection. Theoretically the mortgage company should then release the funds to the contractor and the homeowner. (Theoretically b/c our mortgage company comes up with something new they need every 2 weeks. We've been fighting for our money for 10 weeks now. So good luck!)
Can the mortgage company keep homeowner claim money that is left over?
Yes, If money is still owed on the property. The mortgage company is a co-owner and a co-insured until the mortgage note is paid off. Of course, these funds would have to be credited to any amounts you still owe on the property.
How do you correct and accidental discharge of mortgage?
If you are referring to accidentally recording a discharge of mortgage, and you did NOT intend on releasing the mortgage...the solution is to re-record the mortgage with the registry of deeds. If the discharge was properly signed and executed, then it is legally valid and you can not defend it in legal proceedings. Your loan is no longer attached to the properly upon properly releasing the mortgage with a mortgage discharge.
What can a mortgage company do if mortgage had not been paid in 4 years?
What can a mortgage company do if mortgage has not been paid in 4 years
What is it to have remortgages?
A re-mortgage is when you have an original mortgage on your home, and need to apply to the same bank--or a different one--to change the terms or amount of the mortgage. It may be to have funds to add to your home, or it may be to simply lower your rates and work with a more personable company at the same time.
What is American Equity index 5 rated?
If you are referring to American Equity Investment Life Insurance Company (and not the mortgage company) and have an Index-5 then you may be entitled to funds from a class action settlement.
Who gets the money to pay off first mortgage at closing?
The funds from the new mortgage are advanced to your solicitor who pays out the current first mortgage.
Does the mortgage company verify your income?
Yes the mortgage company verifies income.
