OT. I have an insurance check question.

[C.P.]

I went to the bank yesterday to cash a claims check from my insurance company. It was made out to me, my wife and the lender.

Here is the problem the lady cashed the check gave me a receipt and on my merry way I went. An hour later she called and left a voice mail saying we have to discuss ""today's transaction".

My bank is a sub of my mortgage lender (both have the same first name and the last name says mortgage.

Does anyone see a problem w/ this transaction? Will I be able to use my deposit slip as proof of anything?

What are options?

THX in advance.

 

[raidermattk]

I dont see a problem? What would be the problem?

 

[C.P.]

The bank is sending the check back to me and in turn I have to send it to the lender to hold until I get the work done on the house.

:WTF::sad3:

 

[DrunkenHorseplayer]

Since you've already got the cash tell them to f*ck off and that if they want the money back to go to court.

 

[tigerwins]

dont tell an insurance company to court....THAT IS WHAT THEY DO FOR A LIVING!!

legally you have to give it to the bank

 

[Murphy8276]

if u got an insurance check due to flood or something...there is no way in hell they can force u to actually replaces the furniture..etc instead of keep the money from the checl.

HOWEVER if it is structural / fire dmage..etc then they can wait for u to do work due to it being needed to be livable and the mortgage is caring the blunt of the load on this one.

In most cases, say they pay out 5500 for damage....and u have a 500 deductible.....Most repair/rebuild/ etc companies charge a bill after work is done, especially when dealing right through a insurance claim...its 100% guranteed money to them..so why wouldnt they......so get 2000 worth of work done. They will bill the insurance company....insurance pays the 2K, takes 500 off top for decutible and mails u out a check for 3K only to u and ur wife(no lender) after work done.

its about 50% of insurance companies who give the lender benefit of doubt when it comes to a claim...its the lenders choice to force needed repairs done.....if u burnt ur house to shit and got paid out 100K or something crazy, and leave a house that is gonna rot out neighborhood and isnt sellable due to forclosure.....etc then definitly this is why they take precautions because of fraud from past assholes trying to pull fast ones.


In other words, if u arent trying to do something shady or wrong, jus call mortgage company and they should be able to get their name off check and send u in full the payment...talk with them and insurance co...otherwise get the work done for a cheaper deal then settled for...

gl

-murph