JPMorgan Chase review: holding insurance funds 5

Chase has done the exact same thing to me. The total loss on my house was about $290, 000.00. Chase received a the first draft in the amount of approximately $123, 000.00. They then sent me about $60, 000.00 of it so that I could start my repairs. I received a second loss draft from the insurance company. I endorsed it and sent it to Chase, overnight with a signature request. Chase received the check on March 14, 2016, and I knew because I had the signature confirmation. They then lied to me and said that they hadn't received the check until March 18, 2016. When I requested 1/2 of the second check, which would bring me to having received approximately 50% of the total funds, so that I could bring my house to 50% completion for the first inspection, Chase refused to give me the money. So having received only $60, 000.00 of a total $290, 000.00 loss, Chase told me that I had to be at 50% before they would give me any more money! WTF?! You haven't even given me 50% of the total money, how am I supposed to have my house at 50% completion? Nobody there knows how to do math. Chase told me to work it out with my contractor. Why the hell would he float that kind of cash up front on a job? Better yet, why should he? Chase has a diminimus interest in my property compared to its overall net worth. I could burn my house down and they are more than covered just for the value of the land alone which is basically oceanfront property in California. Every time I call their Insurance Loss Draft Department, which is actually a company called Assurant Specialty Property, who Chase hires to administer their insurance loss proceeds. The people at Assurant lie all the time and claim that they are part of Chase Bank, but they are not. Why is it that Chase Bank Insurance Claims Department just happens to have the exact same address and phone number as Assurant Specialty Property in Duluth, Ga? When I got the results of my inspection, (remember, they still refuse to give me even 50% of the total amount of the loss funds to get my home to 50%, and by the way, the majority of the loss in my home is materials, not labor). So my first inspection came in at 35% completion, with Chase Bank having distributed to me only 25% total of the funds. When I requested more funds, Chase Bank told me that I had to have an inspection that said 38% completion. REALLY? Chase Bank is refusing to release funds because my inspection came in at 35% and not 38%! Every time I call up their call center, I get someone who lies to me. They lie all the time, constantly. But one thing is consistent. They tell me that I need to be at 50% before they will release any more funds, even though they refuse to release 50% of the funds. This is the most frustrating thing I have ever gone through. It doesn't help the fact that no one who answers the phone can even do basic math, they can't even figure out percentages. Their standard answer for everything is "that's our policy." When I requested additional funds before my inspection, they didn't even respond to my request by denying it, they just did nothing. After about a week I hadn't heard anything, so I called them again and they said that I needed an inspection. I asked them when were they going to have someone contact me? They weren't. It has gotten so bad with all their employees lying all the time, I finally sent them a notice that I will be electronically recording all my conversations with them from now on so that I can use them against them in legal proceedings if I have to. They are refusing to release MY OWN MONEY, so that I can fix MY OWN HOUSE. When you try to explain that you can't get to 50% completion without 50% of the money, they tell you "we don't care, that's not our policy." They claim there are some government regulations regulating the disbursement of insurance loss funds, but that is a total lie. I have never dealt with such horrible people in my life, they are constantly "axing" me something and just talk right over you, like the louder they say something, the more true it becomes. I have taken to detailing their conduct and memorializing it in writing and sending them letters advising them of their conduct. If they don't dispute what is contained in my letters, then it becomes a legal admission. What they are doing amounts to constructive fraud and bad faith. These people need to be stopped, I'm just not sure how, but maybe a lawsuit against Assurant Specialty Property will have to be the way. These people are straight up criminals.

We are now going through an awful time with insurance claims through chase. Our house burned in May of 2015 and the contractor we hired was paid by Chase Insurance Claims department for 91 percent completion but he took off after only 51 percent was completed. This contractor restorations and interiors inc have filed bankruptcy to avoid all his fraud lawsuits. There is no way at this time to recoup the money. We have since found a great contractor who is willing to repair what is needed and finish what the last contractor was paid for and did not finish. So the money left in insurance claims escrow needs to be dispersed to new contractor to get us in our home before foreclosure again.BUT insurance claims says the house has to be up tp 91 percent completion before any more money is dispersed. now how can we get our house to 91 percent if they wont disperse the money to do so.We are going to be out of a home our escrow and our leased apartment. how does this make any sense. if we had the money to finish it out of pocket we would have gotten a court order to get the funds. so chase will get our home our escrow and ruin our lives. what a way to legally screw folks.