NLIC.org

Nancy Said:

My Mortgage company refuses to sign my Insurance repair check. What's worse...?

We Answered:

The mortgage company is making sure the home is repaired. Think of it this way, you own the part of the house that is paid for--- they own the part of the house that is not. They have a financial interest in the house. They have a financial interest in making sure the repairs get done. There concern is that you will not get the repairs done - fall behind on the payments and they will foreclose on the house. Given the high fore-closer rate right now -- that's not an unrealistic concern. I am sure mortgage companies have been burned by this situation too many times and are starting to crack down.

As far as your policy goes, it has a loss payable clause that says the insurance company HAS to protect the mortgage companies interest. They have to put the mortgage company on the check.

So yes, what the mortgage company is doing is legal.

Charlie Said:

Why does bush always come up with a plan that leaves out help for the poor people who need it the most?

We Answered:

Bush is about looking out for himself and his rich, crony friends. This is the same man who gave the RICHEST 1% of Americans major tax cuts while the other 99% were net LOSERS under his tax and spend policies. For every one dollar in tax cuts they got, they were stuck holding a bill for three dollars and seventy four cents. In 2006 alone, the US government gave out 92 BILLION dollars in Corporate Welfare, as if tax cuts for the already wealthy weren't enough. If we can help the most fortunate in our country, why can't we help the LEAST FORTUNATE? We've tried it the BS Republican way with their "Trickle Down" economics which just puts more money in fewer hands. Now let's try it OUR way by giving tax cuts to the poor and middle class, they'll spend that money in the same places which will create profit, which will create jobs which will allow companies to expand. Let's call it Bubble Up Economics!