Insurance Proceeds in Interest-bearing Escrow Account Lizbeth Lizbeth Martinez asked 2 weeks ago
Insurance Proceeds in Interest-bearing Escrow Account

I had a couple questions regarding the process of submitting a check and requesting insurance proceeds to be placed in an interest-bearing escrow account (thank you so much for the sample letter template).

We have received the check for Dwelling + Other Structures for the home we lost to the Eaton fire. However, we noticed that Wells Fargo (mortgage company) uses an online platform for submitting checks. Would you recommend going to a local branch with the edited letter template or just sending it through the mail with the check? Additionally, are there any notable pros/cons to the escrow account?

1 Answers
Answer for Insurance Proceeds in Interest-bearing Escrow Account Alexis Ricci Staff answered 7 days ago
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Hi Lizbeth,

UP has great resources to help you with these large financial decisions and the mortgage process. We recommend following your lender’s process for addressing insurance claim checks. Often this involves mailing the check to a specific location other than your local branch. We highly recommend that you mail the check with certified mail to track the check.

Check out:

https://uphelp.org/disaster-recovery-help/2025cawildfires/ (Working with your mortgage company)

https://uphelp.org/claim-guidance-publications/getting-your-mortgage-company-to-release-insurance-proceeds/

https://uphelp.org/claim-guidance-publications/what-to-do-with-checks-from-your-insurance-company/