Midland Mortgage Company My home was damaged during hurricane Ike, and Midland mortgage refuses to endorse my insurance check so I can start my repairs. Oklahoma City Oklahoma
I received my insurance check on the same day that my house was inspected, the check had my name and my mortgage company, they told me to mail it to them without endorsing it, I sent it to them with the paperwork they requested, I spent 25.00 on mail expences to expedite matters only to find out that know they want me to endorse the check and they want to dictate who and how the money is spent.
Does any body know if there is any legal protection we as consumers have to stop this abuse. I plan to refinance my home I dont beleive this company deserves all the interest they could get from my mortgage.
Pedro
La Porte, Texas
U.S.A.
1 Updates & Rebuttals
J G Shrugged
Austin,Texas,
U.S.A.
What abuse?
#2Consumer Suggestion
Fri, November 14, 2008
They have every right to control the funds in this situation. They don't want to let you have the money, and be able to walk away and hand them the keys to a damaged house!
This is the way the process normally works with an insurance company. You let them know about the contractor who will do the repairs, and the insurance company will pay them directly after work is done, and probably a deposit up front as well.