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Mortgage deliema

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cherrey57

Junior Member
What is the name of your state (only U.S. law)? ca
I FELL BEHIND ON OUR MORGAGE PAYMENT TRIED TO NEGOGIATE, TRIED HARDSHIP LETTERS FOR THE PAST YR. NO HELP. IN JULY OUR BACK ACRAGE CAUGHT FIRE, NOT OUR FAULT. TO MAKE LONG STORY SHORT I SENT THEM CHECK FOR 32000 WHICH WAS TO COVER REBUILD OF GARAGE, DECK,FENCING AND LANDSCAPE. ASKED THEM TO BRING US CURRENT AND ISSUE DIFFERENCE SO WE COULD PUT UP A CARPORT, BECAUSE THERE WAS NOT ENOUGH MONIES TO REBUILD. ESTIMATES ARE BETWEEN $30-60 THOUSAND JUST FOR GARAGE. NOW THEY HAVE CASHED CHECK AND SAID THEY WILL ISSUE IT IN CONTRACTORS AND OUR NAME ONCE WE HAVE A CONTRACTOR AND REBUILD. CAN THEY BASICALLY HOLD MONEY HOSTAGE? THEY SAY TO READ OUR MORTGAGE PAPERS? CHERYL REYES
 


ShyCat

Senior Member
Please don't post in all caps. It's considered the internet equivalent of SHOUTING and makes your post hard to read.

Yes, your mortgage company is fully within their rights to demand that the garage, deck, fencing and landscaping be restored. That is what the insurance money is for. The mortgage company has a security interest in the property and it would obviously be worth less without a replacement garage, deck, fencing and landscaping.

Sounds like you may have been under-insured.
 
Last edited:

Cedrus

Member
Fire was in July. Was it caused by someone lighting off fireworks around the 4th? If so, was a police report made out by anyone? If someone was held responsible, perhaps they or their insurance co. could come into play.
 

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