Your insurance company has sent you a check, and as you open the envelope, you see a check made out to your mortgage company?.
An insurance claim after a hail and wind storm, have your local roofing contractor help here, there are certain procedures you need to follow to collect and cash your check. Insurance Claims Process with Mortgage Check Endorsement.
If your home is damaged, your insurance company will issue a check to pay for The mortgage company will cash the check and deposit the money in an.
In other words, your property and the house are the collateral for the loan; so if you cashed the insurance checks but did not rebuild, then the mortgage company .
Getting that insurance check (also called a Loss Draft) is often only half the battle. it is because the amount of the loss, as determined by the Actual Cash Value.
Before you get your home insurance check, make sure you are fairly compensated. as an additional payee on the check (if you have a mortgage on your home). insurance company as well as cashed the home insurance settlement check.