What is the name of your state? Alabama
Our home received damage from Hurricance Ivan. We were covered under our homeowners insurance. Our problem cropped up when we received our insurance check. The check was made out to us, the couple who is carrying our contract and a bank. We were aware of the couple being on the check as they are named as loss payee on our homeowners insurance. After inquiring about the bank, we were told there was a mortgage on our home from the couple we purchased the home from. This mortgage was never disclosed to us during the purchase. Title search showed no outstanding mortgages. To make long story short.... This bank wants the check! Called insurance company and was told the mortgage company added themselves as a lien holder 1 yr ago and put in change of address, so the notice and current insurance policy went to them instead of us! Help! Do they have a right to our insurance check?
Our home received damage from Hurricance Ivan. We were covered under our homeowners insurance. Our problem cropped up when we received our insurance check. The check was made out to us, the couple who is carrying our contract and a bank. We were aware of the couple being on the check as they are named as loss payee on our homeowners insurance. After inquiring about the bank, we were told there was a mortgage on our home from the couple we purchased the home from. This mortgage was never disclosed to us during the purchase. Title search showed no outstanding mortgages. To make long story short.... This bank wants the check! Called insurance company and was told the mortgage company added themselves as a lien holder 1 yr ago and put in change of address, so the notice and current insurance policy went to them instead of us! Help! Do they have a right to our insurance check?
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