Does the insurance co. Have to send the claim check to your mortgage holder?
UPDATED: Jun 12, 2018
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Asked June 12, 2018
You are not the first homeowner to deal with this issue. There was another homeowner who had a lot of damage done to his home while he and his family were out at dinner. He also had problems with the mortgage company delaying the check payments to his mailing address.
One reason why you might be having your problem is that the checks have both your address and the mortgage company's address on them. The mortgage company also has a vested interest in what happens to the money that you receive.
In most cases, the mortgage company wants to know that you are going to use the money for what it is intended for. They want to know you are making the repairs you need and not just blowing the money on other things. You should read your insurance policy all the way through first.
Some clients have been known to fake claims in order to get their hands on some money. Your mortgage lender or company is merely trying to protect their interests too. They want to make sure you are not committing fraud in any way. That is also why they sometimes will mail your checks out in increments.
Another possible explanation is that your home insurance company does not have your full address on file. That is why they send the checks to your mortgage lender. You might have moved and forgot to let them know your new address. There may also be a glitch in the system. Computers make mistakes too.
Here is the deal. You cannot rely on every address you have on file to know your new address. You need to talk to each one. The post office does not work that way. Sometimes it takes them a while to get up-to-date on everything. You may need to take that into consideration too if that relates to your current situation.
Call them and talk to them. Ask them what is going on. Do not stress out about it unless you need to.
Answered June 13, 2018 by key2616