Storm Damage insurance claim check question

[Bob CTS]

The area I live in was hit with a hail storm, it did quite a bit of damage and the adjuster came out yesterday and cut a check for the repairs to be done, reside the house, new roof, garage doors, gutters and etc.

The check is made out to me and the mortgage company and the bank will not deposit it. The mortgage has changed names so many times that I am not even sure if there is an office to go to, I called the 800 number but they are closed today.

The siding guys are coming tomorrow and the roofers are going to be here Saturday.

What is the normal process that one goes about to get access to the funds that the check is written for? Each mortgage company would be different but was wondering some insight.

Thanks
Bob

[78SA]

:waiting:

[khblair]

is it the normal process to make it out to the homeowner and the mtg company?:waiting:

[Omega Man]

is it the normal process to make it out to the homeowner and the mtg company?:waiting:

Yes as the mortgage company is the holder of the title.



Typically, you send the check to the mtg company and they deposit it in an escrow type of account and they pay the contractors. Any overage is usually sent to the home owners AFTER the repairs are complete.

[mrvette]

Yes as the mortgage company is the holder of the title.



Typically, you send the check to the mtg company and they deposit it in an escrow type of account and they pay the contractors. Any overage is usually sent to the home owners AFTER the repairs are complete.

Been over ten years since I had a HO claim, and maybe two in my life, both times they paid it to me, then I paid to have work done, one time Allstate had their own roofer come out....never saw a bill on that one, they even paid for the tree removal....

tree removal is a shady business in Florida, along with the rest of them.....

:slap::sadangel:

[Bob CTS]

Yes as the mortgage company is the holder of the title.



Typically, you send the check to the mtg company and they deposit it in an escrow type of account and they pay the contractors. Any overage is usually sent to the home owners AFTER the repairs are complete.

Ok, I will have to get on this first thing Monday morning. I sure hope this will be easy and not complicated. Just need to get the roof done, siding, gutters and garage doors.

[khblair]

My ex dealt always with our claims. I wasnt sure how it was usually handled

[Bob CTS]

My ex dealt always with our claims. I wasnt sure how it was usually handled

I just hope the mortgage co can get me access to the funds quickly, I am looking at 7k of repairs done by end of week.

I understand that the mortgage co has a vested interest. Hope for a simple outcome.

[mrvette]

The area I live in was hit with a hail storm, it did quite a bit of damage and the adjuster came out yesterday and cut a check for the repairs to be done, reside the house, new roof, garage doors, gutters and etc.

The check is made out to me and the mortgage company and the bank will not deposit it. The mortgage has changed names so many times that I am not even sure if there is an office to go to, I called the 800 number but they are closed today.

The siding guys are coming tomorrow and the roofers are going to be here Saturday.

What is the normal process that one goes about to get access to the funds that the check is written for? Each mortgage company would be different but was wondering some insight.

Thanks
Bob

Jeez, mind saying what the check amount IS?? must be over ten grand....

I assume a 1800' house, roof at 6 grand here in Florida, and siding is...well unknown, and I suspect 5000 bux...garage doors here in Florida have to be hurrycain proof...braced like mad....so they run about 1500 installed....maybe more....

[ConstantChange]

is it the normal process to make it out to the homeowner and the mtg company?:waiting:

I had hail damage that ruined my roof about a year ago. The check was made out to me and the mortgage company. I had to mail the check to the mortgage company. They signed it and returned it to me. I then deposited the check and paid the contractor.

It took 2-3 weeks to get the check back after I sent it off.

[RonC5]

After the last hurricane, we sent the check to Countrywide and they endorsed it and sent it back.

[BuckyThreadkiller]

Mail it to the mortgage company, they'll endorse it and send it back. When my inlaws were tornadoed, they did that and had the endorsed check back in a couple of days.


I have an account at Chase and they bought my mortgage company a few years ago. It was handy in that we took the ins. check to the local branch and they handled everything. 15 minutes later we had the money in the account.

[Bob CTS]

I had hail damage that ruined my roof about a year ago. The check was made out to me and the mortgage company. I had to mail the check to the mortgage company. They signed it and returned it to me. I then deposited the check and paid the contractor.

It took 2-3 weeks to get the check back after I sent it off.

That is good to keep in mind. My agent just sent me an email saying some other customers were told to sign the back endorsement guaranteed by X mortgage co. She advised to not do that unless directed to do so. She said since there is so much damage the mortgae companies want everyone to get started on repairs and not be a hinderance.

[Bob CTS]

Jeez, mind saying what the check amount IS?? must be over ten grand....

I assume a 1800' house, roof at 6 grand here in Florida, and siding is...well unknown, and I suspect 5000 bux...garage doors here in Florida have to be hurrycain proof...braced like mad....so they run about 1500 installed....maybe more....

Check is 11.5k after 750 deductible and 1k worth of depreciation