I'm in the state of Louisiana where there was a freeze on issuing home owners insurance thru state farm allstate etc. Now the state has to issue policies for home owners.
Unfortunately, I'm having problems getting FairBanks capital to escrow my homeowners insurance. I've followed all of their requirements, and have faxed the information as well without any response or phone calls from the appropiate personnel. Each time i got thru to talking with someone to help me with this situation, I was told something different each time.
Since I did not have or could not obtain a home owners policy, Fairbanks capital has added their own I guess to protect their investment. Needless to say, it is very expensive, and it has increase my monthly note as much as 50% based on what I'm already paying. I am disabled, and I am on a monthly income, and I cannot afford the additional monies. Just the other day I recieved a letter stating that the home owners policy that was forced onto my monthly note does not carry hazard insurance. If i do not show proof of hazard insurance before the month is out, they will be forced to add it themselves.
I've called the customer service to find out the steps to take in order to have the insurance divided over a period of time, and i've since then taken the steps, and I have not recieved any information, plus know one has contacted me. For the past month I've requested that the hazard insurance amount be divided over a 24 month period. I can see this ignorant act ahead of time.
These con artist or trying to make it to where I cannot afford to pay my monthly note by adding large amounts to my mortgage. As of today 5/5/03 I've contacted the following agencies: Consumer Protection, Attorney generals office, (OFI) Office of financial Institution. Last I thought I was the only one in the world that was experiencing this problem, but Now I SEE Clearly that I am not. GOOD LUCK TO ALL, and I say lets put an end to this BS..
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