Insurance Claim Check

What is the name of your state? FLORIDA

I RECEIVED MY SETTLEMENT CHECK FROM MY INSURANCE COMPANY AND WILL FORWARD TO MY MORTGAGE COMPANY FOR DEPOSIT TO ESCROW ACCT. MY QUESTION IS, IF THERE IS ANY MONEY LEFT OVER AFTER THE DAMAGES ARE TAKEN CARE OF, DO I GET THIS OR DOES THE MORTGAGE COMPANY KEEP IT. ALSO, I WANT TO DO SOME OF THE WORK MYSELF. AM I REQUIRED TO BUY SUPPLIES AND THEN THEY REIMBURSE ME. I WOULD LIKE THE MORTGAGE COMPANY TO PUT ABOUT 2,000 OF THE 13,000 OUT FOR SUPPLIES UP FRONT. THANK YOU FOR ANY INFORMATION YOU CAN GIVE ME. THIS IS IN REGARD TO HURRICANE CHARLEY.

Mortgage Co. & Your Ins . Draft

The mortgage company does not have a right to keep your money , they only have the right to verify that the damage has been repaired as they have an intrest in your property. Most companies will release at least 33% of the funds back to you so that you can begin repairs , once those repairs are made they might want to send an inspector to confirm. At this point they will release at least another 33% , and then request another inspection after all is at least 90% complete they should release the remainder of the money.
They only have a right to keep funds if you are behind in your payments.

You can also do some or all of the work yourself. Once again they are just concerned that the building gets repaired. 90 % of the mortgage companies will relase all funds under $10,000.00 as long as you are current, they only inspect and hold funds on large claims over 10k.

Public Ins. Adjuster