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10-21-2005, 05:22 PM
| | Junior Member | | Join Date: Oct 2005
Posts: 3
| | | is this legal?
What is the name of your state?fl Our current mortgage lenders are private lenders (married couple). We are currently refi. My problem is last year we recieved damage to our roof from a hurricane and they sent us one of the insurance checks in which we did the roof ourselves saving lots of money.We let them know it was done so that the rest of our money could be sent and in the mean time we are trying to refi so that we could get away from the private investors.Well there not returning our calls in reference to the other insurance check so i called the mortgage broker were dealing with now and he stated to me that there lawyer faxed him all the paperwork needed to refi and that they applied that insurance check to our payout without consulting with us.We have had to make out of pocket expenses to do these repairs and still have a couple of other things to do but was waiting for the check! Our broker says he can contact there lawyer again to have it sent to us but could prolong closing being he would have to redo payout amount and that the private investors could make thing messy and charge us lawyer fee's.So our broker advised we should just leave thing alone being were getting cash out.Does any of this sound legal? And is our broker right? Thank You for your time..Rhonda  |
10-21-2005, 06:02 PM
| | Senior Member | | Join Date: Aug 2005
Posts: 1,964
| | | I'm confused. How did your broker end up with a check from YOUR insurance Company to apply toward anything?
Pay a real estate Atty a few hundred dollars to look over all this paperwork before you sign and do anything that will cost you far more than that consultation will!
We are not privvy to all the contracts you have signed up until now. |
10-21-2005, 06:08 PM
| | Junior Member | | Join Date: Oct 2005
Posts: 3
| | | Our private investors have the other insurance check and they are the one's that included it into the payout.Thank you again for your time.Rhonda |
10-21-2005, 06:15 PM
| | Senior Member | | Join Date: Aug 2005
Posts: 1,964
| | | When I had roof repairs from storm damage they never sent my check to the Mortgage Company but to me or my repair person. |
10-21-2005, 06:41 PM
| | Junior Member | | Join Date: Oct 2005
Posts: 3
| | | In our case the checks came in both our names and our lenders names.Rhonda | |
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