MORTGAGE BANKS

Is anyone dealing with mortgage companies holding funds and delaying disbursement of insurance claim money to the homeowner and then the contractor? We knock out a roof in 1-2 days then wait a minimum of 7-10 days or more for a mortgage inspector to verify the work is done. If 95% of work is not completed in which can in a hail claim typically involves several other trades not related to the roof and if that work is not completed draws are issued 1/3 etc. A recoverable depreciation invoice is sent for the roof and also made out to both the insured and the bank. The homeowner is upset, the contractor gets paid net later and it's getting worse. What happened to the getting paid upon completion days? I have been told that after Katrina and the numerous insurance fraud claims as well repos is why the Banks are doing this. The contractor is now floating 30-60 days on getting paid for a roof job.. Any ideas? http://www.rooferscoffeeshop.com/rcs/users/sjducharme/

Mortgage banks play a pivotal role in facilitating home financing, serving as intermediaries between borrowers and lenders. These institutions provide various mortgage products tailored to meet the diverse needs of consumers, enabling individuals to realize their dreams of homeownership. However, in recent years, concerns have arisen regarding fraudulent practices, such as the creation of fake bank statement, which pose significant risks to the integrity of the mortgage industry. Addressing these issues mindfully is essential to uphold trust and ensure transparency in the mortgage lending process, safeguarding the interests of both borrowers and lenders alike.

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