Get Wells Fargo Home Recovery Kit

You can view the status of your claim by signing on to Wells Fargo Online®. When we complete our research, you will receive a final resolution letter.

Your mortgage company needs to endorse the check before you can cash it. Most mortgage companies have procedures you must follow to ensure the funds will be used properly. When the insurance check is made out to both you and your lender, you need to endorse it first.

If, for whatever reason, you believe you're owed money and the bank has not yet made contact, you may call Wells Fargo at 844-484-5089, Monday through Friday, from 9 a.m. to 6 p.m. Eastern time. Those who don't receive assistance from the bank may submit a complaint to the CFPB.

The reason you should not deposit or cash the settlement check sent by an insurance company is two-fold: Insurance companies are business ventures: Just like any other business entity, insurance companies want to make more money. One way this is done is through settling claims for minimal compensation.

Does Wells Fargo require a property inspection? If you're buying a home, it's highly recommended that you obtain a property inspection and make your purchase offer contingent on the findings of the inspection. There is a difference between a property inspection and an appraisal.

Depending on the amount of the claim, your mortgage company will either disburse the full amount needed for repairs or break it up into segments. If a mortgage company decides to break it up into segments, it may then put the funds into an escrow account to disburse for needed repairs.

If your insurer pays you directly and a home repair costs less than what it gave you, generally, you can keep the leftover money. But before you do, check your insurance paperwork to ensure there's nothing in writing stating that you must return unused money.

Can I use the insurance funds from a property damage claim to pay off my mortgage? Yes, if the claim amount exceeds the amount required to pay the mortgage in full.