Countrywide Home Loans, Now Bank Of America Forced Placed Insurance on Home Owners Association Insurance Dallas Texas
I purchased a condo in Utah in 2006 through Countrywide, which was then sold to Bank of America (without any knowledge on my part). I am never been late on a mortgage payment, insurance or taxes. I received a message through Bank of America's "message center" when I paid my August mortgage payment (on June 16, 2009) which indicated my insurance was going to expire on 7/1/09. Thinking I might have lost track of the payment of my home owners insurance, I paid it in full through 2/2010. However, this was NOT the insurance Bank of America was referring to. It was, instead, the insurance due from the Home Owners Association. They threatened to place forced placed insurance for the entire complex (almost $10 million dollars) if I did not have the insurance paid in full by 7/1/09. It took more than a week, several phone calls, e-mails, etc. I had to harass my HOA and they had to take the check (for $1200) directly to the insurance agent last night in order for the policy to not expire.
I spoke with my HOA (who was thankfully very understanding and helpful) who indicated they had NEVER heard of a problem like this in the past 35 years and I was the ONLY resident to ever have a problem such as this. Be AWARE of Bank of America trying to foreclose on people in any way possible. They are actively participating in fraudulent and dispiciple behavior and I truly hope karma finds them and gives them what they deserve!
Keirie
Taylorsville, Utah
U.S.A.
8 Updates & Rebuttals
Rubyirving1
Irving,Texas,
U.S.A.
No, insurance vs foreclosure?
#9Consumer Comment
Mon, July 20, 2009
I don't think so, forcing anyone with insurance or taxes CAUSES foreclosures as I am dealing with the same thing. I understand the bank is looking out for their interest, but forcing someone to pay more for something they couldn't already afford (during the time alloted through the lending co's.) only forces worse things to happen.
Rubyirving1
Irving,Texas,
U.S.A.
No, insurance vs foreclosure?
#9Consumer Comment
Mon, July 20, 2009
I don't think so, forcing anyone with insurance or taxes CAUSES foreclosures as I am dealing with the same thing. I understand the bank is looking out for their interest, but forcing someone to pay more for something they couldn't already afford (during the time alloted through the lending co's.) only forces worse things to happen.
Rubyirving1
Irving,Texas,
U.S.A.
No, insurance vs foreclosure?
#9Consumer Comment
Mon, July 20, 2009
I don't think so, forcing anyone with insurance or taxes CAUSES foreclosures as I am dealing with the same thing. I understand the bank is looking out for their interest, but forcing someone to pay more for something they couldn't already afford (during the time alloted through the lending co's.) only forces worse things to happen.
Rubyirving1
Irving,Texas,
U.S.A.
No, insurance vs foreclosure?
#9Consumer Comment
Mon, July 20, 2009
I don't think so, forcing anyone with insurance or taxes CAUSES foreclosures as I am dealing with the same thing. I understand the bank is looking out for their interest, but forcing someone to pay more for something they couldn't already afford (during the time alloted through the lending co's.) only forces worse things to happen.
Bubba Ho-tep
Keizer,Oregon,
U.S.A.
Placed Insurance vs Foreclosure
#9Consumer Suggestion
Thu, July 09, 2009
Your HOA's delinquincy caused this, not your bank. Although I have never heard of an individual having forced insurance for the entire complex that they live in, it is still a requirement of the loan. Having forced insurance placed on your mortgage is not even close to being foreclosed on.
Bubba Ho-tep
Keizer,Oregon,
U.S.A.
Placed Insurance vs Foreclosure
#9Consumer Suggestion
Thu, July 09, 2009
Your HOA's delinquincy caused this, not your bank. Although I have never heard of an individual having forced insurance for the entire complex that they live in, it is still a requirement of the loan. Having forced insurance placed on your mortgage is not even close to being foreclosed on.
Bubba Ho-tep
Keizer,Oregon,
U.S.A.
Placed Insurance vs Foreclosure
#9Consumer Suggestion
Thu, July 09, 2009
Your HOA's delinquincy caused this, not your bank. Although I have never heard of an individual having forced insurance for the entire complex that they live in, it is still a requirement of the loan. Having forced insurance placed on your mortgage is not even close to being foreclosed on.
Bubba Ho-tep
Keizer,Oregon,
U.S.A.
Placed Insurance vs Foreclosure
#9Consumer Suggestion
Thu, July 09, 2009
Your HOA's delinquincy caused this, not your bank. Although I have never heard of an individual having forced insurance for the entire complex that they live in, it is still a requirement of the loan. Having forced insurance placed on your mortgage is not even close to being foreclosed on.