Month: January 2022

Hello,

My friend is having some home repairs done following the freeze last year. The money has been sent from her home insurance company to her mortgage company.

The mortgage company may require a ‘surety bond’ from the contractor(s), especially if they are unlicensed. For example if she hires a contractor to do painting and polishing they may not need a license, thus the mortgage company may require a surety bond.

Any leads on where a small contractor business can purchase a surety bond?

Just trying to help the contractor as he is a small business and she would rather give him the proceeds rather than to a large corporation.

I know google will give unlimited results but any leads for local businesses are welcome.

Thank you