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samwallace54
Joined: 11 Dec 2009
Posts: 3
Location: Mesa, AZ
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 Posted: Fri Dec 11, 2009 9:50 am Post subject: Bank refuses to sign over payment |
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| We did a large water job and submitted payment. Our contract says we're to be paid within 30 days. We weren't. When we did receive the check, it had our name and the mortgage companies names on the check. Upon contacting them for endorsement, we got nothing but red tape. We did their required inspection and kept in as much contact with the homeowner as possible. Now, the house has been sold through foreclosure, the homeowner can't be found, the bank absolutely refuses to endorse the check (and we know they will keep the monies or pay as they see fit) and the insurance company that wrote the check cannot and, supposedly cannot, rewrite the check to just us. So, we're out close to 20k. Who can we go after and how to get paid. We really don't want to have to sue the insurance company as they're a contracted provider and give us a lot of work. The bank doesn't owe us for services, technically and the homeowner is not only MIA but no longer responsible for the home. Any advice would be greatly, greatly appreciated. Our corp. office is washing their hands of it. |
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dplummer
Joined: 13 Jun 2006
Posts: 261
Location: Collingwood,ON. Canada
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| Posted: Sat Dec 12, 2009 9:54 am Post subject: |
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Can you lien the house? If the bank is the owner they owe the money. Talk to your lawyer. You've got nothing to lose at this point.
Doug |
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Sentry
Joined: 25 Apr 2006
Posts: 143
Location: Macon, GA
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| Posted: Sat Dec 12, 2009 10:56 am Post subject: |
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Wow.....what a tough spot to be in!
A few things come to mind:
Definitely lien the property if you within the the lien law limits. Maybe lien it even if you are not. Beware of "slander of title" claims, however.
Sue the owner. Today. Get the ball rolling on that claim. Even if he is judgement proof, get a judgement. Who knows, he may hit the lottery one day!
Consider a claim against the mortgage company for fraud. Claim that they represented themselves in bad faith in order to secure your endorsement on the check. Call your state insurance commisioners office and make the same claim.
_________________
Chris Cole, CR, WLS
Sentry Construction Company, Inc.
3042 Somerset Dr.
Macon, GA 31206
(478) 784-7080
(478) 788-2608 fax
"We Make it Easy!"
www.sentryconstruction.com |
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Sentry
Joined: 25 Apr 2006
Posts: 143
Location: Macon, GA
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| Posted: Sat Dec 12, 2009 10:59 am Post subject: Re: Bank refuses to sign over payment |
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| samwallace54 wrote: | | Our corp. office is washing their hands of it. |
What does this mean?
_________________
Chris Cole, CR, WLS
Sentry Construction Company, Inc.
3042 Somerset Dr.
Macon, GA 31206
(478) 784-7080
(478) 788-2608 fax
"We Make it Easy!"
www.sentryconstruction.com |
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samwallace54
Joined: 11 Dec 2009
Posts: 3
Location: Mesa, AZ
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| Posted: Mon Dec 14, 2009 9:37 am Post subject: |
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| Unfortunately, we can't file a lien at this point. Not only do the laws work against us, our program agreement at the corporate level forbids it. In some scenarios, our corp. office is willing to step in and assist in unusual circumstances such as these. But this time, they are unwilling to say or do anything. The house passed foreclosure and has since been sold off in auction. So, we really don't know who we can go after. |
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Sentry
Joined: 25 Apr 2006
Posts: 143
Location: Macon, GA
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| Posted: Mon Dec 14, 2009 9:38 pm Post subject: |
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Wow.....hung out to dry by your franchise........whoda thunk it.........
_________________
Chris Cole, CR, WLS
Sentry Construction Company, Inc.
3042 Somerset Dr.
Macon, GA 31206
(478) 784-7080
(478) 788-2608 fax
"We Make it Easy!"
www.sentryconstruction.com |
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chuckymcdowell
Joined: 13 Nov 2009
Posts: 10
Location: Texarkana, Texas
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| Posted: Tue Dec 15, 2009 7:10 am Post subject: |
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Grow a cold heart, Hire some thugs under the table, Have him duct tape their kids. Theyll pay
_________________
Chucky McDowell |
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samwallace54
Joined: 11 Dec 2009
Posts: 3
Location: Mesa, AZ
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| Posted: Tue Dec 15, 2009 10:47 am Post subject: |
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What kind of claim do you mean? How would we do that? Thanks for the idea. This is one avenue we hadn't thought of yet.
| Sentry wrote: |
Consider a claim against the mortgage company for fraud. Claim that they represented themselves in bad faith in order to secure your endorsement on the check. Call your state insurance commisioners office and make the same claim. |
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RichardC
Joined: 22 Mar 2006
Posts: 11
Location: Topeka, Kansas
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| Posted: Tue Dec 15, 2009 4:01 pm Post subject: |
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That's awful.
You would think with all that you guys pay Servicemaster, they would at least have a plan of action for you, if they were not willing to go to bat for you. |
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Sentry
Joined: 25 Apr 2006
Posts: 143
Location: Macon, GA
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| Posted: Tue Dec 15, 2009 7:39 pm Post subject: |
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| samwallace54 wrote: | What kind of claim do you mean? How would we do that? Thanks for the idea. This is one avenue we hadn't thought of yet.
| Sentry wrote: |
Consider a claim against the mortgage company for fraud. Claim that they represented themselves in bad faith in order to secure your endorsement on the check. Call your state insurance commisioners office and make the same claim. |
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Well, the check came with your name on it. You contacted the mortgage company, and some conversation ensued regarding how you were going to convert that 2 party check into money you could deposit. I doubt that conversation said anything about you not getting paid in the end, or you would have never signed over the check. You sent them the check in good faith based on representations made by the mortgage company. They even followed through with an inspection. I assume the inspection showed the work complete. My claim would be that they made false representations to you in order for you to give up your place on the check. Criminal fraud! It also seems to be theft by conversion:
Georgia Code 16-8-2 16-8-4 (a) states that "A person commits the offense of theft by conversion when, having lawfully obtained funds or other property of another including, but not limited to, leased or rented personal property, under an agreement or other known legal obligation to make a specified application of such funds or a specified disposition of such property, he knowingly converts the funds or property to his own use in violation of the agreement or legal obligation. This Code section applies whether the application or disposition is to be made from the funds or property of another or from the accused´s own funds or property in equivalent amount when the agreement contemplates that the accused may deal with the funds or property of another as his own."
Who is the mortgage company? Hopefully it is one of the biggies who took bailout money. In todays climate, a well placed newspaper article describing their actions and how it has harmed you might be picked up by the AP and go world wide. You would get paid the next day!!
The lesson here? If you are owed the money in full and your name is on the check, never sign away your rights to the money. There is no reason for the MC to deposit the funds into escrow and then turn around and pay you in full. If you are not done with the work and you need to send the check to the MC to be deposited into escrow, require a deposit on the work and do not start until you receive it. This will immediately reveal if the mortgage is not in good standing.
_________________
Chris Cole, CR, WLS
Sentry Construction Company, Inc.
3042 Somerset Dr.
Macon, GA 31206
(478) 784-7080
(478) 788-2608 fax
"We Make it Easy!"
www.sentryconstruction.com |
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steve g
Joined: 22 Mar 2006
Posts: 32
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| Posted: Tue Dec 15, 2009 9:34 pm Post subject: |
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if I send a check in to the mortgage company, I don't sign it, I let them sign it and send it back. I would be suing someone about now.
sometimes it helps to kinda judge the situation and decide your involvement, I walked on a large water loss, after feeling the guy seemed a little shady, he also told me, he might let the property go back to the bank. |
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sumomk
Joined: 03 Jun 2008
Posts: 98
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| Posted: Wed Jan 27, 2010 7:25 am Post subject: |
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Do you still need help with this?
_________________
Mark |
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Sentry
Joined: 25 Apr 2006
Posts: 143
Location: Macon, GA
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| Posted: Wed Jan 27, 2010 12:14 pm Post subject: |
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| sumomk wrote: | | Do you still need help with this? |
Yeah, where are you at with this? Please keep us all posted, including the processes you are having to go through. This is something that could happen to any of us!
_________________
Chris Cole, CR, WLS
Sentry Construction Company, Inc.
3042 Somerset Dr.
Macon, GA 31206
(478) 784-7080
(478) 788-2608 fax
"We Make it Easy!"
www.sentryconstruction.com |
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yygg
Guest
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sumomk
Joined: 03 Jun 2008
Posts: 98
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| Posted: Wed Mar 31, 2010 9:26 pm Post subject: |
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Please stick to the subject matter at hand.
_________________
Mark |
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