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  1. #1

    Default Insurance Check From Property Damage and Refinancing

    I own a house with my ex-husband. He pays the mortgage. I am an equal owner. I am not on the mortgage (or not on the note...? I am the owner but not responsible for payments).If he decides to refinance the house, will he need me to sign any paperwork or he can do it on his own? I guess I am afraid that he'll do it behind my back.
    Also, we have an insurance check that has not been cashed out yet. What will happen to the check if my ex refinances the house. There are 3 names on the check - mine, his and the mortgage company. He wants to steal the money and I know that becase he already done that before. The house is pretty damaged right now from the hurricane.
    Thanks

  2. #2
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    Default Re: Refinancing..where goes insurance check?

    The check which requires your endorsement cannot be cashed without your endorsement. So in the absence of an act of forgery, that part's up to you.

    If any appreciably amount is involved, it would be unusual for a mortgage lender to give a loan to one owner without getting the other owner to sign necessary waivers to permit them to proceed with foreclosure if payments were not made.

  3. #3

    Default Re: Insurance Check From Property Damage and Refinancing

    Well, what happened last time was that he got a check only on his name and the mortgage company from insurance. I guess that's because insurance goes by whoever is on the mortgage. He cashed it out and kept the money. It was a significant amount too.
    I know that you said that it would be unusual for the mortgage company not to ask the 2nd owner to sign the documents but are there cases when it can be done? Are there loopholes that I have to watch out for?
    Thank you.

  4. #4
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    Default Re: Insurance Check From Property Damage and Refinancing

    The insurance company can do whatever it wants. It's more a matter of what makes sense for them, and not being able to foreclose doesn't make sense.

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