I live in TN. Roof damaged by hail. Insurance company wrote check. Mortgage holder endorsed check. I cashed check. I have not made the repairs (planning to). Mortgage company (Wells Fargo) bugging me about making repairs. What recourse do they have (if any) if I continue to wait to fix my roof?
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Can my mortgage holder make me fix my hail damaged roof?
- Thread starter Pipeman
- Start date
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sandyclaus
Senior Member
More to the point, if you have already been paid for the roof repairs, why haven't you used the money for its intended purpose? What are YOU waiting for? Did you spend the money on something else instead?
I'm not exactly sure what recourse your mortgage company has, either, but I figure they can do something - since they were required to endorse the check to allow it to be cashed and used to pay for the roof repairs. Reporting you for nsurance fraud comes to mind.
Confucius say, "May 'insurance fraud' not long dwell in mind".
I have not committed any insurance fraud. The damage was real. I just have chosen not to fix the damage at this time. That is not fraud. When the mortgage company endorsed the check I gave them no timeline as to when I would have the work done....and they asked for none.
Ohiogal
Queen Bee
Better read your promissory note. You are allowing waste to occur to the property. Depending on how the note is written and how aggressive your mortage company is, you could find yourself facing foreclosure.
Pull out your mortgage note.
It actually says "mortgage note" at the top of the paperwork. Read it, my guess is that it states that the home must be kept in "livable condition" and likely has other contractual obligations that you the mortgagee are required to abide by. In the event that the Mortgagor determines that you have not abided by the terms in the MORTGAGE NOTE then the Mortgagor has the ability to do what is called "calling the note due" this means that it is required to be paid in full immediately.
So... Read the note. Determine what is required of you. (Im sure it's something)
Then do it, or pay off your mortgage.
Insurance Fraud
it is only FRAUD if the damage did not occur. If the damage did occur and occurred as reported, etc. then the homeowner did not commit fraud.
IE we took a power surge in 2010, I lost the following items in the surge;
2 TVs, 3 computers, 1 microwave.
I got a check to replace the above (as I was properly insured, know that electronics are not covered in the event of a surge on all policies) With my check I purchased 1 TV, 2 computers, 1 Microwave, 1 refrigerator. I lost actual items, the items cost actual money I actually proved that they were lost to the insurance company, the company didn't care if/when I replaced any of them.
In any event I haven't read OP's documents relating to his mortgage, but I have personally written and closed a multitude of mortgages (plenty of them funded by OP's mortgage company) in my time, I have read thousands of Document packets, I'm sure that the mortgage company is with in their rights to require that the Home Owner maintain the property.
NOW could OP get a contractor and some other persons to write affidavits stating that the damage is not structural, that the home is not in disrepair and that the roof is still in livable condition then present this to the Mortgage Company and not fix the roof at all? Possibly... Op would need to speak with mortgage company on that, and possibly an atty if that is the route they would like to go.
-Source; Many years of mortgage exp.
It actually says "mortgage note" at the top of the paperwork. Read it, my guess is that it states that the home must be kept in "livable condition" and likely has other contractual obligations that you the mortgagee are required to abide by. In the event that the Mortgagor determines that you have not abided by the terms in the MORTGAGE NOTE then the Mortgagor has the ability to do what is called "calling the note due" this means that it is required to be paid in full immediately.
So... Read the note. Determine what is required of you. (Im sure it's something)
Then do it, or pay off your mortgage.
Insurance Fraud
it is only FRAUD if the damage did not occur. If the damage did occur and occurred as reported, etc. then the homeowner did not commit fraud.
IE we took a power surge in 2010, I lost the following items in the surge;
2 TVs, 3 computers, 1 microwave.
I got a check to replace the above (as I was properly insured, know that electronics are not covered in the event of a surge on all policies) With my check I purchased 1 TV, 2 computers, 1 Microwave, 1 refrigerator. I lost actual items, the items cost actual money I actually proved that they were lost to the insurance company, the company didn't care if/when I replaced any of them.
In any event I haven't read OP's documents relating to his mortgage, but I have personally written and closed a multitude of mortgages (plenty of them funded by OP's mortgage company) in my time, I have read thousands of Document packets, I'm sure that the mortgage company is with in their rights to require that the Home Owner maintain the property.
NOW could OP get a contractor and some other persons to write affidavits stating that the damage is not structural, that the home is not in disrepair and that the roof is still in livable condition then present this to the Mortgage Company and not fix the roof at all? Possibly... Op would need to speak with mortgage company on that, and possibly an atty if that is the route they would like to go.
-Source; Many years of mortgage exp.
RIGHT.... In the mortgage note, it will state what remedies they have and what your obligations actually are... My guess is, you are obligated to fix the roof, you are not obligated to spend the whole check fixing it.... but it does have to be fixed. If not the call the note, and you are scooped.
When we got our insurance check after endorsement by the mortgage company, we had to show proof of roof being fixed, have an additional inspection done, and then after the insurance company was satisfied, we had to send a letter to the mortgage company stating that the insurance company had approved the repair of the roof.
I can tell you from experience, that all insurance companies look at when roof was repaired/replaced, as it's available on public records, for permits and such. It makes a difference even for renewal with some insurance companies.
I can tell you from experience, that all insurance companies look at when roof was repaired/replaced, as it's available on public records, for permits and such. It makes a difference even for renewal with some insurance companies.
sandyclaus
Senior Member
Ok, so I was off the mark when I thought it might be insurance fraud.
But I'm still waiting to get an explanation of WHY OP is waiting to spend the money he received on repairing the damaged roof. That's what the money was intended for, and that's what he told the mortgage company they endorsed over to him would be used for.
I'll bet he spent it on something else instead of the repairs, and figures that he can get away with it as long as the mortgage company doesn't come after him and call the note.
But I'm still waiting to get an explanation of WHY OP is waiting to spend the money he received on repairing the damaged roof. That's what the money was intended for, and that's what he told the mortgage company they endorsed over to him would be used for.
I'll bet he spent it on something else instead of the repairs, and figures that he can get away with it as long as the mortgage company doesn't come after him and call the note.
Ohiogal
Queen Bee
Or he spent the money on other things.
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