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What is the law on a Mortage Company holding you home owners
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Icon Mini Profile MissyArnold



Joined: 06 May 2008

Posts: 1



1.25 Dollars($)
PostPosted: Tue May 06, 2008 10:12 am    Post subject: What is the law on a Mortage Company holding you home owners
What is the law on a Mortage Company holding you home owners claim check on properity damage? What is the state law for AR or are all laws the same for each state?
 
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Icon Mini Profile adonis
adonis


Joined: 22 Oct 2005



Posts: 1254
Location: ALASKA


107.80 Dollars($)
PostPosted: Tue May 06, 2008 9:59 pm    Post subject:
Welcome Missyarnold,

Probably the insurance company has offered the check to the mortgage company because it has an interest in the property. By the way, is the property entirely damaged and by how? then obviously the company can hold it and take away the funds because their mortgage needs to be paid for.
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