Three years ago we had to take out loans on our mortage free property after losing a business contract to pay off creditors. Countrywide homeloans was one place we went to. (The other Champion Mortage - another story) A year into the mortage they sent us a letter stating we could get a better deal with our homeowners insurance policy through them and wrap it up in our payments. We went for it and dropped our personal policy (can not have 2 policys).
On June 5th at 2am our house burnt down completely.
There is nothing left. We called countrywide homeloans and told them what happened. Countrywide told us that we were only covered for the amount of the mortage (which was around $62,000) and not for the house or contents. We were being charged $74.00 a month for this insurance. We were also told that no more payments were required from us because the insurance was taking over.
It is now Dec 29th and they are still charging us mortage payments and insurance payments. We are not the only ones that believed what they said in that letter. We were told by the inspector that came that he saw other people who were left homeless sitting on door steps with no place to go. These Mortage Companies are defrauding people and getting away with it. I would like to get a class action suit going.
0 comments