30 Oct Mr. and Mrs. Michael L; San Diego, CA
Mr. and Mrs Michael T. had a home loan on their house, their house became flooded and uninhabitable. As a result their house had to be foreclosed, and 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 to them to endorse it, the loan company was going through a transformation at the time and was acquired by another company and claimed that they had no records of their account and that they cannot endorse the check and mailed it back to their attorney. This happened a couple of times before they eventually gave up and the account went dormant. Mr. and Mrs. L. 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 and the loan company should be removed as an owner on the insurance policy. They were finally able prove their entitlement and claim their funds, the account was finally settled and closed.