
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 …
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