Flagstar Bank: Give Me My Money, My Roof Has A Hole

[Are_grits_groceries]

Hurricane Ike left Mike's with a hole in his roof. He needs Flagstar Bank's holding onto his insurance company check like a hole in his head.

My home was damaged by Hurricane Ike. Our Insurance company sent our check to us and flagstar bank. The check was sent to Flagstar for endorsement, but they will not release it to me to make much needed repairs on my roof.

First, they said our account had a $5.26 late fee applied.... (Even though customer service said this fee was waived. .. I have a ref # to prove this.)

Then they sent a letter saying that I did not provide the contractors insurance or license information. I have proof of doing this as well.

It seems to me that there is a policy in place where they hold on to money for as long as they can. This money is not theirs! I need it to repair my house. I have 2 small children and it gets rather cold when there is a hole in the roof!


http://consumerist.com/5108687/flagstar-bank-give-me-my-money-my-roof-has-a-hole

An insurance company pays, but now the bank is playing around.
And they wonder why people are fed up.

[Turbineguy]

1. Yeah, that seems normal

the insurance sends the check to the mortgage holder as they have an interest in the value of the house.

I had the same thing once, but got the bank to sign over the check to me after a few days.

But one thing. An extra 133,000 people know about this now. That's a start.