I bought a home from someone who had his mortgage with American General Finance, after paying him an attorney to file a quit claim deed we went to American General, I wanted to finance with another company but the loan officer there told me that I was able to get a lower interest rate if I could make payments with them for 6 months, after the initial 6th months I was told that the interest rates had gone up and I should wait an additional 6 months.
Now a year after that I was told my home was upside down and I needed an additional 20k to refinance. I did not have the additional cash to do this, I was told at that time to keep paying the mortgage until the prices of homes went back up. Moving forward 3 years I had a fire at home and it was a total loss, at that time I was informed that once the insurance company paid me they would take the money and apply it to the principal because they do not do new construction only repairs. I had them put that in writing. Then I told the insurance company to hold on sending that check and decided to talk to someone higher up within American General, I did speak with the district manager and explained to her how this situation came about, she then said that I was not able to do owner building and I had to hire a general contractor instead of subcontractor to do the building and oversee it myself.
The insurance is not paying me enough to do this, so I am at a standstill with this home. Mean time I pay the mortgage and rent which I could hardly afford. I don't know who to turn to to get something done.
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