Posted by river city on May 03, 2007 at 16:01:36:
If you had made your payments according to the contract, the mortgage company would allow you to submit receipts showing you paid for the repairs out of pocket. They would also send an inspector to ensure that the repairs had been made. Since you are in “foreclosure” the lender may not have an obligation to give you the funds because you have not been making your payments as you promised. The insurance company will not make the check payable to only you. They have to make it payable to both you and the mortgage company because the mortgage company basically owns the property until you have paid the mortgage in full.