Wells Fargo Mortgage
Forced to Carry $250k Flood Insurance Instead of $75k Loan Amount

Is anyone else out there being forced to carry more flood insurance than what they had when they got their mortgage? I had to carry flood insurance for the amount of my loan, 75k. Wells Fargo then bought my mortgage from the original bank, and they are now trying to force me to carry 250k worth of insurance. And of course, they want to sell it to me at about 3x the going rate for what they claim I need. I don't have a problem with carrying 75k worth, but 250k is ridiculous.

I have heard from local insurance people that this is going on, but they can't release names to me. This should be a huge story, anyone with a mortgage and flood insurance is vulnerable. I heard a story about someone 25 years into their mortgage having to suddenly double their coverage. I am attempting to get the media interested in this, and I need evidence that this isn't just an isolated event just happening to me and a few others.

Company: Wells Fargo Mortgage
Country: USA
Site: yourwellsfargomortgage.com

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