Held Hostage!
Tuesday, May 26, 2009 - A couple who lost their home in a fire called KUSI's Michael Turko when they ran into a major roadblock re-building. The work is almost done, but they tell Turko their mortgage company won't release the rest of the money they need to finish the job.
When home owner's insurance pays off in a case like this, they release the money to the mortgage holder. They're supposed to release it to the homeowner in phases as the rebuilding gets done. But here's a case where the work got delayed and the money ran out. The homeowner says the bank still has forty thousand bucks of their money, but it's being held hostage! |
