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lender/insurance question.
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<blockquote data-quote="Ericb" data-source="post: 133218" data-attributes="member: 871"><p>Trip no im not a banker i am in the insurance industry on the health side. I the only beef i have with your post is your playing the victim and threatning lawsuites due to other negligence (im not saying yours). Is it the banks fault your work has not been completed? You said they gave you the money when you had someone lined up to do it. Maybe its the family friend contractor thats given you bad advice. A good contractor would have dealt with the insurance when you had the bad adjustment, and they would complete the work and then help get there payment threw the bank after they completed the work. The reason the bank holds your money is for situations like Phill's. (No offense to you Phill). But lets say his roof leeks and there is damage, then insurance is off the hook. Try buying a house where insurance has paid a claim and the work was never done. either the claim money has to be put in a escrow account or the bank wont touch it.</p></blockquote><p></p>
[QUOTE="Ericb, post: 133218, member: 871"] Trip no im not a banker i am in the insurance industry on the health side. I the only beef i have with your post is your playing the victim and threatning lawsuites due to other negligence (im not saying yours). Is it the banks fault your work has not been completed? You said they gave you the money when you had someone lined up to do it. Maybe its the family friend contractor thats given you bad advice. A good contractor would have dealt with the insurance when you had the bad adjustment, and they would complete the work and then help get there payment threw the bank after they completed the work. The reason the bank holds your money is for situations like Phill's. (No offense to you Phill). But lets say his roof leeks and there is damage, then insurance is off the hook. Try buying a house where insurance has paid a claim and the work was never done. either the claim money has to be put in a escrow account or the bank wont touch it. [/QUOTE]
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