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re: mortgage company dealings question for the contractors

Posted on 10/9/08 at 10:57 am to
Posted by Traveler
I'm not late-I'm early for tomorrow
Member since Sep 2003
24279 posts
Posted on 10/9/08 at 10:57 am to
quote:

your contractor is not going to put out alot of his money on your job and wait for 1/3 draws... they can't do it like they used to.



Exactly, which was the pinch I was in. I was going to have to stop work until Chase inspected, then doled out the next check. My contractor had other jobs pending and wasn't going to wait. I had already fronted $20K out of my pocket.
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
40144 posts
Posted on 10/9/08 at 11:06 am to
We did a job for a guy that had Chase back in 06 after Katrina. He ran into the same thing - after about 3 months, he threatened to sue them and they gave him the whole check.

He turned around and wrote it over to me - like $60k all at once. I was like, "dude! you can't do this!".

He said, "frick it, I'm tired of dealing with all this mess, just finish the house", which we did.

I don't know what the atty did with Chase, but base on the other post in this thread, Chase must have button to push that get's you out of their goofy inspections.
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