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Home >> Lending >> Home Mortgage
Mortgage Insurance Scam?
My mortgage insurance expired Nov. 06, in the same month in which I sold my home; however, before I could close I had to pay my bank the full amount for the insurance (approx 10k, one year of coverage), which I didn't find out until I was at the title company on the day of the closing. I didn't understand this, since I only had coverage for a few weeks, but they said it was policy to pay the whole year. I was told I would be reimbursed and that it would be simple and easy to get my refund. All I had to do was send a letter after closing asking that the force placed insurance be removed. I did so, but never received a refund, and basically have gotten the runaround from the bank for the past three years. I don't know what to do, but I know I am entitled to this money. Please help.
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 At this point you should either hire an attorney, or contact the banking regulator for that lender. Each has its own ombudsman to help on these complaints. Start with the FFIEC that will help you find who oversees your lender.
Published on BankingQuestions.com 11/10/09
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