I have been a homeowner for 4 years and have NEVER made a late payment on my mortgage. Now, because of Wilshire, I will soon be facing foreclosure. I have worked with 4 banks in the past 4 years of owning my townhome, and none have had a problem with my property insurance. Wilshire, however, does not like my insurance and has tacked on their own insurance which increased my mortgage payment by $700/month! I don't mind negotiating the insurance issue, but how can it be possible that my mortgage go up by this much? Can anyone afford such an increase? Is this corporation setting me up for foreclosure purposely? I have submitted faxes of my insurance documents and they continue to say they have not received them even though the fax number I am using was given to me by one of their CSRs. I have also tried to make a payment of my mortgage excluding the additional $700 fee and they refuse to take it, both via phone with a CSR and on the web. I am now behind on 2 mortgage payments and I am outraged as this will severely impact my perfect credit history with my mortgage. Additionally, to make things worse, I am trying to find a bank I can refinance with, since Wilshire stated that they do not refinance any mortgages. My balance for my home is approximately 304K, and one bank I am now working with looked at my credit report and said that the balance on the home is 312k! How did this happen? I am so scared of how this company is ripping me off. I'm terrified of what I will owe in the end. I called their office yesterday and asked if I happen to have a pre-payment penalty, and I DO NOT. So where does this additional 8K come from? Now, I don't know what to do because I can't afford to refi for 312K and in reality my total is 304K. Please help??!!! Attorneys? Victims?
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