I as a recent victim of 2 hurricances, I have forced insurance that I paid for so I have to deal with my Banks (Homecomings Financials) Insurance Department whom has our insurance money hostage. They provided us with $7000 of our $23000 in insurance money and say they wont release any more money until the house is 50% completed. We used $6200 to pay the roofer (the roofing job is 100% complete) and $800 to pay for tree removal (100% complete). We sent copies of the payment receipts via certified registered mail to the insurance department and in return they have sent an inspector to verify the work completed. The reply we got from them is that they will not release any more funds until the entire house is 50% completed. So now I have no choice but to get annother loan to obtain money to repair my home while my insurance money sits in an escrow account I cannot touch and I dont draw intrest from.
My advise: under no circumstance should you ever deal with homecomings financial, they are a heartless institution that preys on the american public.
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