I received a check from insurance company for a rental property fire. The check is made out to the mortgage company and me. Is there anyway I can keep money without doing the repairs?
Answer
Yes, followed by getting sued and then possibly going to jail for fraud. Do you think you can steal the lender's money, leaving them with damaged collateral? No.
Answer
If you want to go to jail or get sued by the lender, yes.
Otherwise no.
Read your loan papers now (you should have read them when you signed). The answer was already in those papers.
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