HHQ Pays Contractors Usually Within 7 Days.
So why do some people say something different? We certainly can’t speak for every single person or contractor, but here are some of the reasons why you might hear differently:
The contractor doesn’t want to be paid with a Home HeadQuarters loan or grant because we require insurance. Every project that requires a contractor, should require that contractor have insurance—even if you aren’t financing the project through HHQ. This protects you, your home and your family should there be an accident or if something goes terribly wrong with the project.
The contractor hasn’t pulled the required permit(s) for the job or is having trouble scheduling a close-out with a city or county inspector to complete. Permits are required for some work by the town in which you live. Items like roof replacement, plumbing, electrical, fences, widening driveways, exterior doors and more, can often require a permit.
The contractor heard it from a friend of a friend who knew someone who had to wait months to get paid. Ok?
The contractor hasn’t submitted his W-9 to be paid.
The homeowner has not signed off on the work. We ask that both the contractor and homeowner sign a Certificate of Completion that the job is completed to everyone’s satisfaction.
The contractor would like all of the money for the job up front. Can we tell you to never do this—on any job, ever?
Sometimes, homeowners think they have HHQ funding secured, but they do not. Occasionally, a homeowner fills out an application request thinking it is an application and calls contractors believing the same. While it usually gets worked out one way or another, work and payments can be delayed.
If you or your contractor have any questions about payment terms, please contact a HHQ lending expert at (315) 474-1939 or info@homehq.org.