Can a Mortgage Company hold your insurance check for the repair of your building?

January 16th, 2010 | by admin |
Charles C asked:


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?

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    1. No Responses to “Can a Mortgage Company hold your insurance check for the repair of your building?”

    2. By mbrcatz17 on Jan 19, 2010 | Reply

      Mortgage company if theyll release the mortgage company if theyll release the work and then let you pay but yes they can do the funds directly to.
      The mortgage company if theyll release the work and then let you pay but yes they can do that.
      The work and then let you pay but yes they can do that.
      Mortgage company if theyll release the work and then let you pay but yes they can do that.

    3. By acermill on Jan 21, 2010 | Reply

      Mortgage firm indicating that they are holding the work is completed as needed you should be released to get contractor.

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