PLEASE HELP Living in a FEMA TRAILER!

[I wish I knew]

What is the name of your state? Florida
wish I knew06-22-2006, 12:39 PM
What is the name of your state? Florida
We finally received payment from our flood insurance after Wilma 10/24/06.
We currently live in a FEMA trailer on our property and the checks are very large.
The checks came in both mine and my spouses' names and our mortgage holders name
Our mortgage company says we MUST endorse the checks and they will release a third of the money at a time? Lots of paperwork involved.
Is this how it works?
Some of our friends did not have to do this with their checks and say we would be fools to endorse the checks and trust what the mortgage co says.
I have it in writing that this is their policy.
Our credit is less than good(long story) .
We are current on our mortage payments but, being sued by credit card companies.
If the mortgage company knows or realizes we are in such debt can they pull anything?
Should we endorse the checks and trust the mortgage comapny will release the money in thirds as they say.
Friends tell me this is illegal they must release 1/2.
I need an answer as quick as possible because FEMA is pressuring us to give the trailer back because it is now hurricane season again.
We just want to get back in our home ASAP but don't want any more hold ups with the $$$.We have been through enough already
We would like to do some of the repairs ourselves and if any $$ is left try to get out of debt.I originally did all the work on the house when we purchased it in terrible condition 5 years ago. Any advice will be appreciated.What is the name of your state? Florida

[Bill & Ted]

What mortgage company is it?

I have read horror story about having to jump trough hoops to get the money to fix things from the mortgage servicer, if you don't find any help here you can check out this forum The Mortgage Servicing Fraud Forum and ask a question, some of the people there have been through a lot with theses mortgage servicers, you might want to read About RESPA laws. [url]http://www.msfraud.org/forum.htm[/url]

I'm not an attorney, I was also hit by hurricanes, but in 2004 in north Fl, we are still try to get back to normal life.

Good Luck make sure to keep good records, if you do send them the check make a copy of it and send it return recite.