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?

Because.

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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