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re: Chase Bank is saying I have to have a licensed contractor to repair my house
Posted on 9/26/16 at 3:39 pm to Franktowntiger7
Posted on 9/26/16 at 3:39 pm to Franktowntiger7
Not your house. Chase's house that they graciously let you live in for 30 years and then its your house.
0
Posted on 9/26/16 at 4:06 pm to Franktowntiger7
I have been working for home builders for 7 years. It would be stupid to hire a contractor, even the company I work for and have to pay the taxes $10k plus. I am not doing all the work myself but I have done most of it before. I am not doing the plumbing or electrical.
Posted on 9/26/16 at 4:11 pm to Franktowntiger7
every poster in this thread that mentioned bonded has no clue what they are talking about.
Posted on 9/26/16 at 4:19 pm to Chad504boy
Send your inspector out, if it looks good, give me the money. That's what you did the first time when I built the house. I have 30% equity in my house, their investment is secure. Hope chase doesn't do that to me.
My parents mortgage company tried to do something similar, and they ended up just paying off the house with their first disbursement.
My parents mortgage company tried to do something similar, and they ended up just paying off the house with their first disbursement.
Posted on 9/26/16 at 4:21 pm to Franktowntiger7
The bank owns your home, so it's their call.
Don't like it? Pay off your mortgage.
Until then: their rules.
Don't like it? Pay off your mortgage.
Until then: their rules.
Posted on 9/26/16 at 4:25 pm to PenguinNinja
My mortgage company is telling me the same thing, but I am the one paying the flood insurance premiums so why do they tell me how and who I can get to fix my home?
Posted on 9/26/16 at 4:37 pm to Franktowntiger7
Standard. If you really want to sub it out yourself go get licensed.
Posted on 9/26/16 at 4:38 pm to junkfunky
Are you saying that you need a general contractor, or your subcontractors need to be licensed?
Posted on 9/26/16 at 4:39 pm to Franktowntiger7
Why would you want someone not licensed to work on your house? You don't want anyone without insurance working on your house.
Posted on 9/26/16 at 4:44 pm to PenguinNinja
quote:The bank has a lien on his house which gives them certain rights including reasonable demands for remediation of the property after a catastrophic event.
The bank owns your home, so it's their call.
There's quite a bit of legal and real world difference between legal ownership and holding a lien on a property.
Posted on 9/26/16 at 4:49 pm to Rust Cohle
quote:
Are you saying that you need a general contractor, or your subcontractors need to be licensed?
You need a general with typically at least one million in insurance coverage. If you obtain a license and insurance you can hire any sub you want.
Posted on 9/26/16 at 5:02 pm to junkfunky
quote:
You need
Is this your recommendation? I haven't heard of anyone requiring a general contractor, maybe license subcontractors. I'll admit most people need a GC when building a house for slab work, framing and rough in, but most people can figure out how to trim out a house, or know who to call to get it done.
Posted on 9/26/16 at 5:03 pm to PenguinNinja
quote:
The bank owns your home, so it's their call.
Don't like it? Pay off your mortgage.
Until then: their rules.
Grow a backbone.
Posted on 9/26/16 at 5:06 pm to LSUBanker
quote:
Chase got badly burned after Katrina from homes not getting repaired and customers pocketing the isurance money and walking away from the house. They not falling for it again.
What does this have to do with needing license or insurance? Nothing. They always have the option to inspect before remitting payment.
Posted on 9/26/16 at 5:16 pm to Franktowntiger7
Maybe you should think a little more about the banks investment
Posted on 9/26/16 at 5:18 pm to papasmurf1269
quote:
My mortgage company is telling me the same thing, but I am the one paying the flood insurance premiums so why do they tell me how and who I can get to fix my home?
Posted on 9/26/16 at 5:29 pm to Porker Face
After some of the estimates that we have gotten back and after seeing some of the work from these licensed contractors, I can certainly see wanting to do the work myself. 90% of the quote are pretty much legal rape and I can do a much better job that some of these jack wagons. Yeah yeah yeah, I can have them come back or protest their work and wind up in court, or I can do the work and know it is right and not have to go through yet another headache to add to the long line of them. My mom is STILL fighting her contractor after Rita. That's a headache I don't want.
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