Your Questions About Check My Mortgage

Sandra asks…

How many times can I get my credit checked for a home mortgage without losing points on my score?

admin answers:

Answer #1 is correct if you are pulling credit for anything other than a mortgage. When shopping for a mortgage the reporting agencies know you have to shop around for the best rate. From what I understand you can have your credit checked a limitless number on times over a 14 day period. They will only count this as one check, provided the credit checks are only done by mortgage companies.
Good luck out there.

Joseph asks…

can i sue a bank for refusing to pay off my mortgage with the insurance check due to the house burning down?

my house burned down in dec 2010. I made all the phone calls i needed to for insurance mortgage ect. The insurance company got the pay off quote that i had the bank fax them and the quote was good up until Jan 20 2011. The insurance cut them a check and the bank put it into a restricte escrow on Jan 18 2011 instead of paying off the loan and now they call me every day for a payment up to 6 times a day. And they tell me conflicting information of how to get this loan payed off.

admin answers:

OK. Did you tell your bank that you are NOT planning on rebuilding the house? Do you know what the payoff amount of the loan is? Do you know exactly how much the check was written for?


If you do NOT rebuild the house, your policy does NOT “pay off the house”. It doesn’t even pay the full damaged amount – it only pays the “depreciated” value, minus your deductible, minus a municiple holdback until you demo the house and clear the lot.

You’re still responsible for the loan, until the loan balance is paid off.

Call your adjuster, call the bank. Get that payoff amount, and the amount the check was issued for. Then, do the math yourself – figure out if the bank got enough money to pay off the loan. If they did, you need to talk to a manager, to get the money moved from that escrow account, to the loan balance, and then have any residuals returned to you.

But if it’s not enough money, you DO have to keep making those house payments, until the loan is paid off. Even though the house burned down.

Sharon asks…

Our insurance check is made payable to me and my mortgage company, how do I cash it?

admin answers:

Every mortgage company has a person or department in charge of loss drafts. Contact them and they’ll tell you what to do.

If it’s a major loss, they’ll hold the money in escrow and pay contractors in draws to complete the work that the money is intended for.

If it’s a small loss, they may tell you to just cash the check or take it to a local branch for endorsement and cashing.

David asks…

my mortgage brokers checks are bouncing what should i do legally?

admin answers:

Stop the payments until the issue is resolved. You cannot afford to keep paying the brokers. If you are getting bad checks, you need to get a Court involved before you have nothing.t

Mary asks…

Stolen ID, Is there a was to check and see if I’m legally married and/or have a house mortgage?

Ok someone has my id card and social security card. Is there a way to find out if they have used it to get married or a house mortgage? Yes i know how stupid i am so please spare me. yes i have marched into the police department and asked for a warrant check.

admin answers:

With LifeLock you can make sure no one opens an account with out your permission.

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Your Questions About Check My Mortgage

Betty asks…

2 names on a check. No “and” or “or” between them. Can just one of them deposit it or are 2 signatures needed?

It is an escrow reimbursement check from my mortgage company. I paid the money into escrow. The bank has my ex husbands name on the check. I’d rather not have to go to him for a signature and explain to him that this is actually my money and he is not entitled to half of it.

admin answers:

Usually both signatures are required. You have several options:
-You can sign your name and see if the bank will accept it.
-You can call the place that issued the check and have them reissue another one made solely out to you.
-You can try writing “For deposit only” and then your account number on the back instead of signatures. As long as your name is on the pay to part of the check and the account that the check is being deposited into, this shouldn’t be a problem.
-You can call your bank and ask them what they suggest.

Richard asks…


admin answers:

I like They have a special section to check Landlords in Foreclosure

Linda asks…

Do I have to use my insurance check to actually repair something in it’s entirety?

I asked my insurance company to pay for a roof because their were leaks, they sent check, it was endorse by mortgage company. My roof is only 14 years old and now another contractor told me that they could fix the leaking parts around the vents, but I do not need a whole new roof. Should I and can I with out getting into legal trouble. Repair it and pocket the rest? What could happen with the insurance company? What could happen with the mortgage company. I have the money for the entire roof in my hands.

admin answers:

You won’t get into legal trouble.

HOWEVER. The insurance company will most likely refuse to pay for ANY more leak claims, and they DEFINATELY will refuse to pay for another new roof, if something happens to this one, because you’ve already been paid.

They can also cancel your policy if you don’t get the roof replaced.

Roofs have a limited lifetime. Yours, seems to be at the end of it’s usable life. If it were me, I’d definately replace the roof, since the insurance PAID for it. Because if a tree lands on it . . . There won’t be coverage, if it’s still the old roof.

Mark asks…

Got homeowner’s insurance check $18,000 to my wife, me and the mortgage company?

Now I have to get Bank of America to sign this so I can get my roof fixed. Does anyone know the process at all. What do I do. I have several contractors and alternate quotes but I just need to get it fixed.

admin answers:

What do you do? You choose a contractor to repair/replace the roof, hopefully for the amount of the check or less.

Susan asks…

Who knows how I can get out of this fix that I’ve gotten myself into

how do I get out of this mess that I’m in. I just recently retired and before, I had a great job ensuring that everything was paid on a timely matter. Then I became ill and got a medical retirement from my job. Since then everything has gone down hill. Now I find myself living check to check. Mortgage, expensive vehicle, creditcards, and nwow college tuition for two kids. I’ve tried to down size by trying to seel the car, getting a consolidation on the credit cards and small loans. But to no avail, no assistance. Need help in the worst way! Don’t want a repo on my credit, no bankruptcy neither. My medical retirement won’t permit me to work. Need positive advice in the worst way.

admin answers:

It looks like you’ve at least made a first step, and realize that things need to change, and quick. Most people never even get that far, so congratulations to you! I take it that you don’t have an IRA or any kind of pension or retirement to help you out other than the medical retirement.

The first thing that stuck out to me was that you are paying college tuition for two kids. Yes, you promised to pay – yes, they probably deserve it, yes you want to feel like you started your kids off right. But circumstances have changed, and it’s time to tell the kids to go get student loans. You’re not going to be able to help them anyway in another 6 months when you can’t write the check. Sit them down, explain the circumstances and tell them to go apply to Fannie Mae. They can get part time jobs while attending college and relieve the stress on you.

Next – the car. I can understand not wanting a repo on your credit, but if you start falling behind on payments, it’s going to ruin your credit anyway. Wouldn’t it be better to take the hit on your terms instead of walking out one morning to find the car gone? In this day of high gas prices and dealers who can’t give cars away, you are probably upside down on your payments and can’t sell it for what it’s worth. I’m not sure how far you have to go to pay it off, but if you can’t sell it, it’s time to let it go. Take the hit, buy a used car with cash and your insurance will go down too – and if you get one that gets great gas mileage, you’ll save there too.

Mortgage – again, I’m sure it’s very difficult to think about selling the house. If you don’t have an expensive car payment and no college tuition, you may be able to keep the house and afford it. Have you thought of getting a renter to rent a room? This may help you while you get on your feet.

Credit Cards – you say you want to consolidate. This is a good idea, but at the same time, if you get a loan you can’t keep using the credit cards. Have you tried to see if you can get a private loan there? Often the people who invest there will take a chance on others, especially if your credit is still decent. But to make this work, you need to cut up all your credit cards but one (do NOT close down the accounts, just don’t use them) and then use the one for emergencies only. Choose one that has a decent limit but won’t get you into trouble ($2000 or so would be good).

Take it one step at a time and look at yourself and your finances as you would look at a total stranger. Then make the decisions, as hard as they may be, as if you would give advice to someone else. Good luck! You can do this 🙂

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Your Questions About Check My Mortgage

Sandy asks…

My contractor forged my mortgage companies signature to cash a check.?

We found out because he is demanding the last check but didnt pay all the subs he was told to pay with the first check and has not finished the work. What kind of trouble is this guy in? Thanks.

admin answers:

I don’t know, could be anything from forgery to bank fraud I suppose.

Laura asks…

Is it illegal for the wrong vendor/business to cash a check I mailed to them?

I accidentally mailed my mortgage check to my credit card company. The cc company cashed the check even though it was clearly not written to them. The names are not even remotely similar. I have a copy of the check and the stamp from the cc company. It’s over $800. I pay $100 to the cc company every month, never more. I know it was so dumb of me but I mailed this check 2 days after having to put my beloved 13 year old dog down. Can the cc company cash a check ot written to them?

admin answers:

“”non negotiable” written between them..this ensures that no bank will cash the cheque unless it is for that specific person or company”…

Huh? Writing “Non-Negotiable” on a check makes the check void, so that it can’t be negotiated by anyone.

Anyway. This is actually sad to hear. When a CC Company receives a check, in all honesty, a human doesn’t even look at the check. It just gets processed. Everything is so automated, the check will probably never get looked at. What happens is, the check gets run through a series of scanners that look for the amount.

CC Companies DO NOT go through a bank. Again, CC companies do NOT go through a Bank. There isn’t a bank involved in this. Most larger companies ARE the bank. Hence, Capital One, for instance, is legally known as “Capital Once Bank, N.A.”, JP Morgan Chase, and likewise.

Now, luckily you caught the error. It’s too late to put a stop-payment on your check if it has already cleared your bank. Go to your Bank, and explain to them what happened. And no, it will not cost you “money” to ask your bank for advice…thats our job. Tell them what happened, and they will give you a Dispute form. For here out, they will most likely get in contact with their Security or Loss Prevention department, who will deal with the CC Company for you, and reimburse you. This will take a while, as the CC COmpany has 60 days to respond to your dispute.

Best of luck!

John asks…

What do I do with an insurance check for damages done to my home when it’s made out to me and mortgage co.?

House has recently been forclosed, and I am unsure of what to do with check as they have already auctioned off the house.

admin answers:

You sign it, and turn it over to the mortgage company.

You cannot get the cash. That’s the whole POINT of a mortgagee clause – to keep you from taking the money, and sticking the mortgage company with a foreclosed, damaged house and a bad debt.

Mark asks…

When my mortgage comes up for renewal, what happens if my income has changed? Does the bank do a credit check?

like when I first applied for my mortgage. My income is now independent rather then from a employer. I am worried that they won’t approve a renewal. Please tell me how a mortgage renewal works in Ontario, Canada.

admin answers:

I think they will probably go by how your past credit was with them. If you made your payments on time you will be fine. They want the payments not your house.

David asks…

Can my mortgage company refuse to endorse my IKE insurance check?

I had flood damage to my house during Ike. Not much, but got a decent amount from the insurance company for it. I fixed nearly all the damage myself and have friends who did the rest for me for free.
I sent my mortgage company my checks to endorse and the receipts fo the work done with all the necessary paperwork they requested for self-contracting (fix it yourself). They sent an inspector and he approved the repairs completely. But, since my receipts don’t add up to at least half the amount the insurance is paying they’re refusing to endorse my checks. Is this legal? This leaves me no options. I can’t get my insurance money because I didn’t spend enough??? Someone PLEASE help me.

admin answers:

YOU need to endorse those checks first. And then send them to the mortgage company, for them to dole out per receipts, and THEN you can request that they release the rest to you. And if they THEN refuse, you can file a complaint to your state banking department.

They do NOT have to endorse the checks first. YOU have to endorse them first.

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Your Questions About Check My Mortgage

Maria asks…

I fell 5 months behind on my mortgage and sent them a check for the whole 5 months but they wont cash it. Why?

The representative told me that they have to “wait for thier attorney to tell them they can cash it”. Do you think they would put me into foreclosure even though I sent them a check to be caught up completely?

admin answers:

Just call their collection dept and just ask what it would take to bring your account completely current. If they do not to speak with you, then seek a bankruptcy attorney and see what options you have.

Mandy asks…

How can i get a mortgage pre-qualification WITHOUT a credit check?

are there any major banks that give pre-qualifications WITHOUT a credit check? I need to get a prequalification for a mortgage before I start looking at houses, but don’t want to hurt my credit.


admin answers:

I thought I answered this.
A credit inquiry only drops your score by 1 or 2 points.
Essentially nothing – and it’s temporary

Major lenders do not focus on that 3 digit score – they view all 3 reports.
They will look at that ding and not count it

Sharon asks…

A mortgage is in my in-laws name I pay the mortgage with personal check. What can I get back for the payment?

admin answers:

I’ve been audited for the very same reason! Your payments toward the mortgage entitle you to interest and tax writeoffs. The auditor told me that so long as I had proof that I made the payments that I was entitled to this writeoff. If your in-laws refinanced for that fiscal year, you may be able to writeoff the points on the loan as well (at a prorated amount).

If your in-laws are claiming the writeoff themselves, then you can opt for “renter’s credit” (which is state) and name the inlaws as your landlords. In this case, you’re a tenant and that’s the best you can do.

If your relationship is candid and open, I would have your in-laws present a scenario to their tax man that they’re renter’s and you’re the owner.

The user below me stated that I was blowing smoke. I went throught the experience and am stating that I went there. His claim was that I “…lucked out with an idiot for an auditor if he allowed your deduction.”

Michael asks…

How can I check if someone got a mortgage in my name?

admin answers:

Since mortgages have to signed and notarized by the court, and you have to be positively identified in person, you would know by now.

Laura asks…

Is there someone i can call about my mortgage company holding my insurance check and dispersing it to me?

alittle at a time inbetween inspections to repair my home from hurricane damage? They told me i had to indorse the ck (its made out to myself and my mortg co) and then mail it to them and they would send me a portion of it at at time….. i think its BS! Is there anything i can do to get around all the red tape to get my house repaired???

admin answers:

True. You have to endorse the check over, and as the work is completed, the mortgage company sends it out to you.

You can get around that, by having the insurance company reissue the check made payable only to the CONTRACTOR.

You can’t get the check yourself, if there’s a mortgagee on your house. That’s to protect the mortgagee, to keep you from banking the money, and not making the repairs to your house.

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