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MORTGAGE BANKS

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November 5, 2010 at 10:01 a.m.

IBROOFING

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/

November 5, 2010 at 11:56 a.m.

CIAK

The URL didn't open. It isn't clear to me what ideas your looking for. B) :) :) B) Deep Down In Florida Where The Sun Shines Damn Near Every Day


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