Can a Mortgage Company hold your insurance check for the repair of your building?; Ben Bernanke Insider Traded On His Mortgage Or Something

December 13th, 2011
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Question by Charles C: Can a Mortgage Company hold your insurance check for the repair of your building?
My building suffered damage with a hail storm. The insurance company sent me a check made out to the mortgage company and to me. Now the Mortgage company is holding the funds and I can’t finish the repairs needed. My mortgage payments are up to date.
The repairs are done, the Mortgage company inspected the repairs and they are holding the depreciation check. Would anyone know why?

Best answer:

Answer by mbrcatz17
Ask the mortgage company if they’ll release the funds directly to your contractor.

OTOH, MOST contractors will do the work, and THEN let you pay . . .

But yes, they can do that.

What do you think? Answer below!

Ben Bernanke Insider Traded On His Mortgage Or Something
By Matt Levine I was a little tickled to read this morning that Ben Bernanke had refinanced his mortgage at around the same time the Fed announced Operation Twist in September. There are a couple of ways to read this story. One is that a hard-working
Read more on DealBreaker

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Is there any government programs to assist low income familes with home repair in Detroit?; Low occupancy, high costs force Alexandria's Canterbury House to close

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Question by Ray: Is there any government programs to assist low income familes with home repair in Detroit?
My grandmother really needs a new roof on her home and I was wondering if the City of Detroit has any programs to help low income families make home repairs.

Best answer:

Answer by Dr. Stoned
I’m not sure just please try this
www.needhelppayingbills.com/…/michigan_assistance_programs.html
this link has things for home repair in it

You should try and see if local people can come together and help out in a roof. See if any local stores will help out in supplies you would be surprised on how many people will try and help. I really hope I help out

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Low occupancy, high costs force Alexandria's Canterbury House to close
Canterbury House, the low-income assisted-living home in Alexandria established by St. James Episcopal Church in the mid-1990s, will close its doors by the end of December. Dwindling occupancy has made making monthly loan payments impossible,
Read more on Alexandria Town Talk

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