Complaint Review: esurance - Nationwide

When you first posted this I was thinking it was just a case you didn't post information you thought wasn't important.  But after your update, I have a feeling that it this is really a case that you have absolutly no clue about what is your biggest expense every month....your Mortgage.

So before you start going off on how this "Big Bad Evil Bank" is ripping you off, you need to spend a few minutes to actually understand your Mortgage.  In order to do this I honestly don't think you are able to do this alone, so you should start to talk to some close friends and/or relatives to see if they can help you understand.

At first I would totally ignore your First Mortgage and start from the Refiance.  

You need to know the amount that loan originated at.  

You need to know the Interest rate that originated at, as well as if it was Variable or fixed. If it was Variable what is it now?

You need to know  your monthly payments, and how much goes toward the loan(Principal and Interest)

I would also pull your IRS 1098's from your tax returns to find out additional information about the Interest and Escrow paid.

If you don't know any of this information, you can find most of it from your statements.  If you don't have those, you can get online with Wells Fargo to request them.

If once you get all of this you still don't understand find an accountant who can go over all of this with you.

I am not trying to be mean or rude here...just that this forum isn't really set up to help people who can't seem to understand the basics, so I am trying to point you in a direction that may actually help.

To who ever responded to my posting, regarding esurance .

   When we first took out our mortage, I believe the interest rate was at 5.5 %, that was back when people were lining up at the banks to try and get good rates, that was at Ohio Savings in Mentor Ohio.

   Than Ohio savings , sold our note to Wells fargo Mtg. I don't know if it makes any difference or not, but we were no made aware of it, until after the fact.

   As was mentioned in my first posting, I believe we took out an extra $5,000.00 to $ 7,000.00 to pay off credit cards, and a few years ago, the wonderful Wells fargo mtg. must have been worried about loosing customers, as the interest rates were falling.

   So, this sweet and wonderful company, Wells fargo , offered there present customers, a chance to refinance at a lower rate, with no closing costs ?

   The above sounded wonderful, but guess what? it was not that wonderful, as wells fargo did indeed give us a lower interest rate, but they failed to disclose, that out mtg. Notr would go back yo the original 30 years,??

   Even though, it did go back to the 30 years again, we have had that low rate of arounf 3.5 % and maybe at the highest 4.5 % , for over 20 years now ?

   How could we still owe only $ 6,000.00 to $ 7,000.00 less than the original note of over 27 years ago ???

   After all of the bull crap that wells fargo has pulled, I indeed , need to find some one who could help me out,?

   I am 57 years old, totally disabled with Multiple sclerosis, my only income is my Social Security disability , my wife is 63, and is Diabetic, has heart problems, and has chronic asthma,

   That is certainly a very heart warming way for a possible Multi Million company,[ Wells fargo mtg. ] to treat disabled senior citizens ,?

   If any one out there would have any suggestions , to what I might be able to do,? it would be much appreciated.

   Thank you in advance, for ant anticapated help to this very disturbing situation.

   Sincerely; Pat & T. J. Painesville twp. Ohio 44077

The bigger issue is your Mortgage.  There is definatly something missing from your report.  If you are telling the entire story, it is basically impossible for be 27 years into a Mortgage and only be down about 5,000 from the original balance.  So if this is the case you need to pull your payment history and see an attorney.

But before you do that, there are a few things that are a bit odd.  First you say you have a rate of about 3.4%, 27 years ago that rate would have been unheard of.  A good rate back then for the Standard 30 year mortgage was around 9-10%.  So did you refinance?  If so when and for how much?  What is your actual monthly payment.  Of that payment how much goes toward the Mortgage and how much goes into your Escrow Account.

Then as for your payments, you say you have made every payment.  Did you make every payment ON-TIME?  Was there any points you were asking for deferments or other arrangements?

As for the insurance, that is just as confusing.  I am not even going to try and figure why they took it out.  But what is again confusing is how you got it back.  If they took it out of your Escrow Account, how come it went back to you directly?  If this caused a shortage in your Escrow Account, how come you didn't put it back to that account?  How come the bank isn't requiring you to put it back?  Even if it was removed by mistake, that doesn't give you "free money" it still leaves your escrow account with a deficency that you are going to need to pay.