mortgage company holding insurance check
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mortgage company holding insurance check
Mortgage company refuses to release money paid by insurance company for hurricane damages. Repairs have been completed and mortgage company has sent their inspector to verify. Now they claim I am not current on my loan.
Asked on May 21, 2009 under Real Estate Law, Texas
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Ahh, you will not believe this, but it happens more often than you think. So you know the mortgage company has to sign off.
So, you have a couple of avenues here. You have administrative law rights and civil litigation rights. They can happen at the same time. Start with contacting the Texas Dept of Banking if your bank is regulated by them (the mortgage company). File a complaint - it is usually not overnight but it will so help your situation.
You can also seek a lawyer -- try legal aid, try www.attorneypages.com.
A third choice -- contact your local politician (councilperson, state congressman or senator) and talk the staff.
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