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Ask Machinc Your Own Question
Machinc, General Contractor
Category: Home Improvement
Satisfied Customers: 945
Experience:  Has written home improvement articles since 2008. Earned South Carolina Residential Builders License in 1991.
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I had a tree fall on my home doing $57.000 dollars damage.

Customer Question

I had a tree fall on my home doing $57.000 dollars damage. The insurance company issued a check in that amount to me and the mortgage company. The mortgage company refuses to release the funds to me. At the present time the mortgage company is owed $40,000
dollars. Without those funds how am I to hire construction people to make repairs? I have never missed a loan payment or have been late. What are my rights, I have done nothing wrong.
Submitted: 2 years ago.
Category: Home Improvement
Expert:  Machinc replied 2 years ago.

I will have your answer in a few minutes.

Expert:  Machinc replied 2 years ago.

You need to set up a meeting with your mortage holder. Let them know you are hiring a contractor do start the repairs. They will want you to hire a licensed contractor and have a written cintract from the contractor . They will meet with you and the contractor. Once they aprove the contract they will set up a schedule to pay the contractor in draws as the work progresses. You dont need any money up front. You can start meeting with contractors and taking bids immediately. I will be glad to answer any questions you may have