Flood flood insurance is a good evening for everyone. I wanted to talk about the failure already passed for 6 ...
Flood flood insurance
Good evening everyone. I wanted to talk about failure
I've been going through 6 for the last few months with my mortgage
Society and their demand for flood insurance.
My wife and I bought our house back at 2017 and at the same time, ours
The original mortgage company Union Home Mortgage does not require us
There is flood insurance. Our flood certificate from CoreLogic said we
Rated as Area X, but said the following:
The characteristic of the subject is in a special flood
Danger zone. The existing structure, however, is not affected and
He is not on the plane. *
At the end of 2018, our mortgage was sold to the third fifth bank. we
Received a letter at the end of January and said we need to provide
Proof of flood insurance that they found our house was in Area A
And if we did not provide proof of insurance they would acquire
Policy on our behalf. I called customer service and after
Explains the situation and says that I have a flood
Flood Insurance Debacle
Good evening everyone. I wanted to talk about a debacle
been going through for the past 6 months or so with my Mortgage
company and their requirement for flood insurance.
My wife and I bought our house back in 2017 and at the time, our
original mortgage company (Union Home Mortgage) did not require us
to have flood insurance. Our flood cert from CoreLogic said we were
rated as Zone X, but did say the following:
The subject property IS PARTIALLY WITHIN a Special Flood
Hazard Area. The existing STRUCTURE, however, is not affected and
is not in the floodplain. *
In late 2018, our mortgage was sold to Fifth Third Bank. We
received a letter in late January saying that we needed to provide
proof of flood insurance because they found our house was in Zone A
and if we did not provide proof of insurance they would purchase a
policy on our behalf. I called into customer service and after
explaining the situation and saying I had a flood certificate from
the original mortgage holder saying I was zone X, they said to
email it to them. This company is also one that will never call you
back. It is always 15-25 days later I will receive a letter.
So, 20 days later I get a letter saying that the documentation I
provided was not sufficient and their vendor found me to be in Zone
A. I called back in pretty irritated and after arguing with the rep
for 20 minutes, they pretty much said the only way the requirement
would be removed is if I provided a LOMA form from FEMA.
I complained enough that the issue got escalated to 5/3's office
of the president. In the meantime, 5 / 3 purchased a flood policy on
my behalf for $ 2,500 a year, which raised my mortgage around $ 300 a
month. After waiting around 40 days, I received a letter saying
that after having their vendor recheck everything, they are
sticking by their original assessment. They then proceed to tell me
that they are requiring the flood insurance since my house might
“Slide into the flood zone”. To me this is completely ridiculous.
At this point without knowing what else to do, I contact my State
Farm agent who I have my HOI through to get a quote on flood
insurance. I end up getting a quote back from them for only $ 500 a
year since they found since the house is in Zone XI was able to
get a preferred rate from FEMA. My agent even talked to a FEMA rep
and this person asked why were getting flood insurance since its own
not required. The FEMA person even said they would get on a 3 way
call with a rep from the bank to try and explain.
I called the office of the president back and re-opened the
case. I provided all of this info including the fact the FEMA rep
would get a phone call. 15 days later I get a letter saying they
are still sticking by their determination. Around this same time, I
also get a letter saying that they can't accept the flood policy I
Purchased from State Farm / NFIP since the policy says “Zone X” and
there is a discrepancy since on their side they show Zone A. I
called back and stay up on them. They told me they wouldn't get on
a 3 way call since it wouldn't change their mind and plus that
department does not talk to customers. They said the only way they did
would reverse their decision if I provided a LOMA showing I'm
not in a flood zone or some other kind of documentation from FEMA
saying why they can't provide a flood policy for me showing Zone A
instead of X. I was resigned to the fact that for $ 500 a year,
having a flood policy isn't that big of a deal ... but now they are
aren't even going to let me do that? I am beyond frustrated. I have
never deal with a company like 5 / 3 Bank.
I think at this point I want to focus on somehow trying to get
the bank to accept the cheaper flood policy, or somehow getting a
letter from FEMA saying why the policy is zone X. At this point how
could I even get a policy showing Zone A when it was determined the
policy was based on X? I don't get it.
Has anyone else been through something like this or have any
suggestions? I need to do something soon or I'm sure the bank will
force place another policy on me.
submitted by / u / dgh19811
[visit reddit]
[comments] ——————————————————————
Sun, 23 Jun 2019 07: 57: 57 + 0000
Real Estate Newsgroups from the United States - Post automatically translated 2 - Hebrew version
To post questions about real estate in the United States now join the Real Estate Group and interest - United States Real Estate Forum:
www.facebook.com/groups/ForumNadlanUSA
----------------------
Good evening everyone. I wanted to talk about a debacle I've been going through for the past 6 months or so with my Mortgage company and their…
The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion
Responses