Will my bank cash an insurance check that is made out to myself and my mortgage company?
They shouldn't. The check is payable to your mortgage lender because they have an interest in the proceeds. You said this when you added them to your policy. Your mortgage company will either want to know that for whatever problem the check was issued, it is corrected, or they'll want the check signed by you, so it can be applied against your loan.
Say the check is for a new roof because of damage from a storm. The mortgage company wants to know that the roof was repaired, so the insurance company listed them, along with you, as payee. If the roof isn't repaired, both you and your mortgage company could face a bigger loss from additional damage.
You should be able to contact the mortgage company and work out the details of what the check was for, and how the problem is or was fixed. Then you'll arrange how to cash the check. These payments are never intended to be cashed without fixing the problem. They are not to be considered homeowner rebates or bonuses when a claim is paid.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
They shouldn't. The check is payable to your mortgage lender because they have an interest in the proceeds. You said this when you added them to your policy. Your mortgage company will either want to know that for whatever problem the check was issued, it is corrected, or they'll want the check signed by you, so it can be applied against your 