TAYLOR, BEAN & WHITAKER MORTGAGE CORP. wiped out my escrow. used my money to purchase flood insurance I did not need and then did not reimburse me for the full amount. overdrew my checking account by taking out more than they were authoriz still owe me money ocala, Florida
TBW sent me a letter saying I had to have flood insurance. I called them and told them I was not in the flood plain. I was told I had to get a "certificate of elevation".I asked how they decided after two years that I was in a flood zone. They said there was a certificate in my loan packet from 1988 that said was in flood zone A. My house wasn't even built until 1999. I have a FHA loan(Ginny Mae). I went to the Muskingum County Title office. They brought up all of the FEMA flood maps for the area. I was not in the flood zone. They generated a letter for me that I immediately sent to TBW.
In the mean time, TBW took 900.00$ out of my checking account. They were only authorized to take out 716.00$. They took the flood insurance money out of my escrow which caused a escrow analysis and the extra 184.00$ was to put in my escrow. I told them they overdrew my account and they needed to put the money back.
In the mean time... I get a letter from them telling me I do not need flood insurance and It's up to me to cancel the policy. I NEVER saw a policy. I have no idea who they got the insurance with. So.. I am on the phone again and they tell me they canceled the flood insurance.
In the mean time... I get a check for 130.00$. I call again and ask where the rest of my money is along with the 30.00$ overdraft fee. They tell me they are not responsible for the overdraft fee and the other 54.00$ is to cover the homeowners insurance and property taxes that were more than they had projected. I said I should have gotten a notice if that were true. They said I did. No, I got a notice that you were going to use my money to buy flood insurance that I did NOT have to have.
In the mean time... they don't take out the August payment. I can't access my account info on-line. So I call the FHA and find out that my loan has been sent to Bank of America.
I am on the phone again and Bank of America tells me my August payment is late and my monthly payment will be going up because my escrow is still 85.00$ short.
I realize other people got ripped off a lot worse than I did but who is responsible for making it right?