by Adodd3 » Wed Jul 06, 2011 12:44 am
We recently had storm damage from the April tornadoes in Alabama. The insurance company cam and estimated then wrote a check for Me & the bank who owns the lean. The bank refuses to let the money go until we pay a contractor out of pocket. When they are done they will release the money. We are current on payments and have never been late and have explained that we dont have that kind of money in pocket. Any contractor is gonna want money for materials up front, or at least I would think so. My question is, "what can legally be done about it?
Posted: Wed Jul 06, 2011 01:09 am Post Subject:
I think you need to talk with the lien holder some more. I'm betting that they just need confirmation that the work has been done before they will release all of the money. I've heard that usually they will release some of he money up front. Again, talk to them some more and verify the details.
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