Posted on: 06th May, 2008 10:12 am
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?
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.
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.