My husband moved out May 14. About a week later, our barn burned down........we recieved an insurance check with also had to be endorsed by the bank and the company holding the mortgage, as well as by us. My husband got the mail that day and took the check directly to the mortgage company without telling me.....I was hoping to use the money to pay off bank loans we have together as he is not paying on them and my credit is shot. Can the mortgage company take all of it if I'm making regular payments on the house, or do they just get it anyway?

No advice, just hugs for you.

IMO, if you are on the check as a payee, your endorsement was required also.

Call the company that he took the check to...and see what they say when you tell them that you did not endorse that check.

When a claim is filed for a car accident, and the bank holds the lien on the car, the check is made payable to them and to you. Then, the amount of the check needed to "payoff" the note is kept by the bank, and you get the rest.

I would think that they same prinicple would apply here. What was the "worth" of the barn...and how much of that worth is the mortgage company entitled to as lien holders. Surely not ALL of it would be my guess....since its purpose is generally to replace what is lost.

I could be mistaken though...insurance stuff leaves me confused sometimes. <img src="/ubbt/images/graemlins/confused.gif" alt="" />

committed

Hugs, Anna. I'd get a copy of the check's reverse side and make sure he didn't forge your name. Then, I had have all my mail forwarded to a Post Office box.

We are buying the farm on contract, so my stbx took the check to the person we are buying from. I called him; but he is on vacation till next week. So I called my bank, who has a second mortgage, and my banker said he'd see if he can get some money for me to at least pay our LP bill so I can get some LP.....the tank is empty and our stove is gas; so I can't cook now. Yes, my name should also be on there so I have to endorse it. My stbx really took advantage of the fact that I was out of town this week.......we had talked about this money and made out an entirely different plan of action, involving paying off joint debts. He now wants to pay down the mortgage, force me to sell the house, and then take half the profit. Of course my attorney says that won't happen, but I will end up paying my attorney more so I can keep my house.

Thanks for all the hugs! I need them

My creep-factor detector just keeps moving further into the red zone on this guy - what a piece of work! Let your lawyer work him over. He deserves no less than the pit bull fighter.

OT - I take it the animals perished in the fire as well? So sad.

Not to worry, there were no animals in the barn. We didn't use it; it needed some repairs and so there were just a few camping items stored in there. We no longer have the chickens and rabbits, just one duck, a dog and a bunch of cats; all of them are fine.

Wow, do you think the creep set the fire just to get the insurance money? I would not put it past him.

I could be wrong but, I think they can, because they are the lien holder. It's basically, the banks barn that burned down, so they should probably get the cash. The same would apply if you were to sell off that portion of the property. You would have to settle that portion of the debt with the lien holder before pocketing any of the money.

Now cashing a check without your signature is another story. Although spouses do sign documents for each other quite often, that doesn't necessarily make it legal. I would check further into that one.

I thought the "mortage holder" was a man, not a company. Usually the insurance company give you a check and you have to BUILD A NEW BARN WITH IT. No where have i heard that you or the mortgage company can ever KEEP the money!

IT SHOULD GO TO BUILD A NEW BARN JUST LIKE THE OLD ONE. REPLACE THE BARN. No one should get the money but the contractor who buys materials and builds you the new barn.

Geeze, call your insurance agent right away! Ask THEM these questions. GEEZE!!!!!!