World Savings Bank is an INSURANCE SCAM ripoff. Los Angeles, California
World Savings Bank holds my mortgage. I have not changed insurance compaines for the 2 and 1/2 years which I have lived in my home. World Savings bank issued a policy since they said I did not have one even though I did have a policy in place... The policy which world issued was $1,200.00 more than the policy I currently have in place...
I want to know how these modern day bandits can justify an insurance policy with a difference of $1,200.00 It just seems alot excessive... and I feel like I have been violated since they immediately deducted this from my account and basically just stole my money from me... Thief Thief Thief
Daphne
Cape Coral, Florida
1 Updates & Rebuttals
anon
Miami,Florida,
U.S.A.
File a complaint with the Florida Dept. of Human Relations
#2Consumer Comment
Sat, January 11, 2003
Hello--
Since you already have the mortgage, I am not sure if you can file a complaint with HUD, but you might want to see. What World Savings has done with your insurance situation is a common ploy, if you research the internet using the search words "predatory lending" you will see that insurance is often a scam packed into mortgages as a money making ploy on the part of the bank. The fact that they deducted it after your mortgage was in place seems even more sleazy, and I believe actionable under "truth in lending" guidelines.
You are another customer screwed by this bank in the state of Florida. This bank is headquartered in Oakland, California. It's a 65 billion dollar company. Let the regulating agencies, such as the Florida Banking Commission and others know of your situation. If you do a search under "predatory lending", you might find other things this bank did with your mortgage that were illegal.
Good luck!