by veeton » Tue May 20, 2008 09:46 am
Victim of property damage. Sent 2 estimates for 2 different repairs. Their insurance company sends 2 party check for total price but written to homeowner and only one estimate company. Shouldn't check been to home owner only?? Should check be refused?
Posted: Thu Jan 07, 2010 04:36 pm Post Subject: who is check made out to
we had damage in2005 from wilma in s florida the insurance denied the claim a adjuster has since reopened the case for us, in a proof of loss statement we needed to put down the lien holder at the time, we have since refied , but are in the first stages of forclosure now what will happen to the check the first company says they will not endorse it , that we need to put the new mortgage company on it , but will they keep the check what t do ?
Posted: Sat Aug 21, 2010 10:55 pm Post Subject: mortgage co
check for homeowner repairs sent to mortgage and insured. mortgage wants to keep check in escrow. does insured have right to pay contractor instead of mortgage co?
Posted: Sat Aug 21, 2010 10:56 pm Post Subject: mortgage co
check for homeowner repairs sent to mortgage and insured. mortgage wants to keep check in escrow. does insured have right to pay contractor instead of mortgage co?
Posted: Thu Aug 26, 2010 06:50 pm Post Subject:
When the repairs are verified as complete the lender will release the funds to the contractor.
Posted: Thu Aug 26, 2010 08:44 pm Post Subject:
Ask your carrier if they can or will stop pay on this draft and reissue to you and a contractor, most can and will
Posted: Fri Sep 16, 2011 01:20 am Post Subject: 1099
two party check issued with my and contractors name
total bill for flooring was 4500 check is for 10000
contractor states he must pay tax on total amount for 1099
if both parties sign either can claim the money
how can irs 1099 him for full anmount
he is trying to get me to give him an additional 3500 for taxes thats 3500 on top of 4500 how can this be right?
Posted: Fri Sep 16, 2011 03:57 am Post Subject:
First, read my sig.
What is the contractors bill? That is what you pay, period. You are leaving out a big part of the situation... such as, why is the payment for $10,000 but you are being billed $4500? Is there other work? If so, again... what is this contractors bill and what is he owed?
Posted: Fri Sep 16, 2011 10:18 am Post Subject:
I don't think your insurer paid you $10,000 when only $4,500 was needed.
Did your insurer pay for some more repairs to be done, which you haven't?
If so, you may be able to keep the extra money but if your insurer finds out, it might deny future claims.
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