We have owned our home for 9yrs before we refinanced in Oct. 2006 within 2 weeks our loan was picked up by Wilshire Credit Corp. Within 30 days we received a notice that we did not have insurance coverage on the property in which we did and had the same policy for the past 9 years. We had State Farm send over the paper work showing our coverage and that is when they came back and said we needed flood insurance.
We have 11 acres and do have a creek at the back of our property and do have a flood way back there but is far from our house we sent in several times mapping showing that our house was not in the flood way did not get any response and they added an extra $445 on our mortgage payment to cover their FORCED PLACED FLOOD INSURANCE at this time we contacted our attorney and kept making our mortgage payment but did not include our extra $445 the attorney called several times and sent several letters with no response.
Then came the Forclosure Notice due to nonpayment, they said that we were way behind because they were putting us in as late because we were not paying the full amount. So in March of 07 they sent our payment back witht he Foreclosure notice. We are still currently fighting this matter in court and was just in Court this past Friday and the Judge sided with them and has given us 30 days to get caught up on our payments including their flood insurace and their attorney fees and court costs. Looks like they can buy judges as well. But we are not going to stop and we are going to take this to a higher court we have a Flood Cert.
That shows that our home is clearly not in the flood plan so we will continue forward. We are located in Indiana if there is anyone in a lawsuit with Wilshire or going into one or has helpful information for us please email it to me at Thank you and hope to hear from you.
0 comments