Back in August (see article) I wrote about the fact that we had hail damage we could not see and fortunately called the insurance company just in case because there had been a hail storm. I mentioned that we had been approved for repairs and wroud get our roof and gutters replaced shortly.
It’s now November. We are finally getting the roof replaced this week. What took so long? Well, the insurance check was sent to the Mortgage company.
After the insurance company adjuster came, we received a letter within two days detailing the repairs to be made. We took this information and interviewed roofers. We found one we thought we liked and told them we would let them know when we would have the check. Two weeks and some phone calls later, we received a check from the mortgage company, which we thought was peculiar. The insurer had made out the check to both of us and sent it to them. The check was made out to us and the mortage company and they wanted us to endorse it and turn it back over. In addition to signing the check, we had to show the mortage company that the roofer was liscenced to do the work and that they have given a fair quote.
In the wait, or initial roofer had moved on and we could not reach them. (It was probably a good thing as we could have been left with a half finished roof). So we had to find a new roofer, this time getting referrals and ended up with someone we actually knew, but just didn’t think of.
Next, we had to get all of the paperwork the mortgage company required signed by the roofer to their satisfaction. We are expecting the check back from the mortgage company any day now.
I do understand why the mortgage company got and held onto the check. So many people are scammed by “roofers” and “contractors” when it comes time to do major repairs. By taking this extra step, the insurer makes sure the mone is used as intended and the mortagage company gets to make sure it’s interests are protected. This is all well and good.
However, in the months that have ensued, we have more water damage in the house due to recent storms and must go back to the insurance company for repairs and start this dance all over again.
It seems as if this process is turning out well for us, but some people don’t fare as well when the insurance check goes to the mortgage company.
In this case, a homeowner complains that they have developed black mold in their home waiting for the repairs to happen and that the mortgage company is holding 1/2 of the check until after the work is completed and they have inspected the work. In the meanwhile, the contractors won’t start the work for that amount.
Sometimes what is done to help us can end up harming us in the end.
~If you liked this you should also read my blogs at the homeschool blog, the parents blog, and the frugal blog. You can read my recent posts here.
Are You Afraid to Call the Insurance Company
“A” Homeowner’s Insurance Bill of Rights.