Holding the note on property..fire damage


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  • I need some advice.
    Thankfully I’ve never had this problem before.

    I’m holding the note on a property that had some fire damage.
    The people are up on payments, no problems.
    The insurance check will have to have two signatures to cash. My company and the insured.
    How do you go about making sure the house is properly rehabbed?

    Does the money have to be spent in compliance with the insurance? *I haven’t seen the paperwork yet on the damage/report*

    Thanks for all help

    Dee-Texas

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