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| *Loan,banking and credit>>>homeowner insurance |
Why would a insurance co. put a lender on a claim check along with the homeowner? |
Hail damage claim By law, the lender is part-owner of the house and has an insurable interest, so their name needs to appear on the check along with the homeowner. Two-party checks are quite common for property damage claims. You need to notify the lender for their procedures in cashing the check (They need to sign it first, then you sign and cash it). Many times, they also require proof once the repairs are completed as well. |
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