Mr. and Mrs. Michael T.; San Diego, CA

30 Oct Mr. and Mrs. Michael T.; San Diego, CA

Mr. and Mrs. Michael T. had a home loan on their house, their house was flooded and uninhabitable. As a result, their house had to be foreclosed, any balances outstanding were zeroed out, and the property was conveyed to Real Estate Owned (REO), relieving them of any remaining debt.

The couple had home insurance for their property and received a check from the insurance company to cover the damages, they were never able to cash the check since the home loan company was also listed as an owner due to the loan they had with them. They needed the home loan company to endorse the check, so they mailed the check for them to endorse it. The loan company was going through a transformation at the time, they were acquired by another company that claimed they had no records of their account, and they could not endorse the check. The loan company mailed the check back to Mr. and Mrs. Michael T.’s attorney. This happened a couple of times before they eventually gave up and their account went dormant. Mr. and Mrs. T. had lost all their supporting documents in the flood which made it even more difficult to prove their case.

We worked directly with the insurance company and the loan company until we were able to track down their account information. We were able to get copies of real estate records, and the sale deed to prove that they had been relieved of all debt, so the loan company could be removed as an owner on the insurance policy. We were able prove their entitlement, filed a successful claim for Mr. and Mrs. T., and the account was finally settled and closed.