Wilshire Credit corporation is threatening to take my house over an 8 month dispute I have had with them over something that is 100% their fault.
My homeowners insurance company went out of business back in September of '06, so I found a new one (with plenty of time to spare before my other policy expired). I had NO lapse in insurance coverage.
Well, naturally Wilshire wanted proof I still had insurance, so I faxed them the proof. One month later I received a letter from them saying they never received proof, so I refaxed it. I began receiving more letters and phone calls a couple of months later saying I STILL need to provide proof that I'm insured. This time I had my agent do it, who called them and confirmed they got it.
Well, lo and behold, a month or so later I received a letter from Wilshire saying that since I never provided proof of insurance, they force-placed a policy for me!!! I was livid and called to tell them so. They noted their error and said they would have to get a refund from the insurance company before they could take the escrow off of my account (which made my monthly payment a couple of hundred dollars higher). The told me to just pay the escrow until the refund came through. I refused, saying why would I pay for their mistake?
Well, a couple of months after that (brings us to present), and I am receiving letters saying I am in default on my loan and foreclosure proceedings will start in a month. When in reality the only thing I have not paid is that escrow they forced on me which I never needed to begin with and for which I sent them the proof that I had it countless times.
They tell me the refund still isn't back (it was supposed to return in 45 business days max and it has been 46 per THEIR records) and that the only way to keep my credit good, the late fees away and stave off foreclosure is to pay the escrow and my mortgage payment and wait for this mysterious refund to come back. The last person I talked to lectured me and was very rude - told me we wouldn't be in this situation if I just paid my stuff on time and sent them proof of insurance when they asked for it. I went nuts.
So here I am, waiting for a return call from someone I don't even believe was really a supervisor and hoping my house doesn't get repo'd before they decide it's ok to give me back my money and take that escrow away. All the mortgage payments I send in are paying that escrow so now my mortgage is behind. I started filling out apps for new mortgage companies today. This is the worst mortgage company I have EVER dealt with.
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