Legal Question in Consumer Law in Virginia
Mortgage life insurance
My father had life insurance on the mortgage for my parents home. He died in October and my mother submitted the claim forms along with death certificate to the insurance provider in November. They say they have submitted payment to the mortgage company, but she has not received any information from the mortgage company. The mortgage company will not give her any information on the phone (they are located in Chicago so she can't go there in person). How can she get the information from them to know if the loan is payed off or if she has to continue with monthly payments? She has payed Nov. & Dec. payments which includes the life insurance premiums for those two months. This is causing her extreme stress!
2 Answers from Attorneys
Re: Mortgage life insurance
Request wriiten confirmation from the life insurance company that they have paid named mortgage company. Send demand letter to mortgage company (certified mail)along with copy of insurance company's statement requesting that mortgage company confirm this payment and that if in fact they have received the payoff, that they refund all amounts to your mother over and above what's owed, including the life insurance premiums. If this fails to produce results,
your mother will need to retain a lawyer for further actions.
Make sure that you have correctly identified the current mortgage servicer for the loan, as sometimes mortgage loans are transferred around
and the borrower is not aware of just
who is actually servicing her mortgage loan.
Re: Mortgage life insurance
Write the life insurance company, certified mail, return receipt requested. Include a copy of the policy. Ask for written proof of payment. Tell them you need it w/i 10 days. If they do not provide, file a complaint with the state insurance commission in Richmond.
Send certified letter, return receipt requested to mortgage company with copy of ltr to insurance company. Tell them you want a response w/i ten days. If they do not respond, file complaint with state banking agency in Richmond.
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