Memphis, TN asked in Banking for Mississippi

Q: If I received insurance check for storm damage can bank cash and hold check because of lack of signature?

Insurance check made out to mortgage company and me, I signed and deposited check, bank cashed check but put hold on it until mortgage company signs, mortgage company won't sign until check reissued by insurance company. Check issued Feb. 2023. Insurance says can't reissue because bank cashed check. Have talked to all parties. Not getting anything done.

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1 Lawyer Answer
Anthony DiUlio
Anthony DiUlio

A: While I do not practice in Missouri, generally speaking, you will want to contact the Missouri Department of Insurance who should be willing to step in to assist. I see no reason that the mortgage company wouldn't be willing to sign off on the original check, for your back to cancel the transaction, or for the insurance company to reissue the check and stop payment on the current one. Any of those should be a reasonable result to assist you in moving the claim forward.

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