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I won a lawsuit today!

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BUTCH1

Lifer
Well, kinda, a class-action one. Chase bank (my morg. holder) has been gouging people on wind insurance coverage and got caught. In my case the local agency that I did business with sold off his business and let everything go to hell, long story short I was without wind insurance from Dec and Jan and didn't know it, Chase charged me $1000 for 2 months, my normal rate is $915/year!. I called Chase and contacted the escrow dept. and a blow-out ensued, "it's not our job to shop around for the best price sir!", yea, I understand that much but it doesn't make it right to gouge the hell out people either, I refused to pay any additional escrow, then I got an email today with this link, looks like Chase has to reimburse anyone who paid (or in my case stop asking for additional escrow payments)..http://www.hefflerclaims.com/cases/CFP/index.html
 
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Vic Vega said:
Chase is scum. Most big banks are.

I deal with all these big banks on a daily basis on the systems side - trust me, I won't go into details but my opinion is they are scum.
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I would tend to agree, I'm wishing they didn't buy my mortgage but I had no choice in that.
 
Vic Vega said:
Chase is scum. Most big banks are.

I deal with all these big banks on a daily basis on the systems side - trust me, I won't go into details but my opinion is they are scum.
Click to expand...


Yep; me and my wife found a good Credit Union and are very happy. Dropped Wachovia/WellFargo and never looked back.
 
I had similar happen in Fla.
Flood Insurance was $100/yr
City changed the drainage patterns; new flood zone maps were drawn and approved by the Feds.
city notified people that were affected by new maps
I did not renew my flood insurance
Mortgage company bought a flood policy for $1000 and wanted to charge me.
told them to pound sand; that I no longer needed it and would not pay the costs that they "incurred" for the policy;.
 
EagleKeeper said:
I had similar happen in Fla.
Flood Insurance was $100/yr
City changed the drainage patterns; new flood zone maps were drawn and approved by the Feds.
city notified people that were affected by new maps
I did not renew my flood insurance
Mortgage company bought a flood policy for $1000 and wanted to charge me.
told them to pound sand; that I no longer needed it and would not pay the costs that they "incurred" for the policy;.
Click to expand...

Good for you, sometimes you've got to stand your ground, $1000 for 2 months, (and Dec and Jan are not hurricane season)=6K/yr rate, they were trying to bend over everyone, I'd be willing to bet they probably told my agent to let my coverage lapse on purpose and kicked $$ some over to them..
 
Butch, congrats! My dad recently transferred his mortgage to a local credit union & couldn't be happier. They treat him like royalty.
 
BUTCH1 said:
Yup, here in FL you buy wind insurance separate from the main home policy, just like flood insurance..
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Like when I lived in Guam, where you can add typhoon coverage to home and auto policies, much the same as some people would put flood insurance on their home.
 
BUTCH1 said:
EagleKeeper said:
I had similar happen in Fla.
Flood Insurance was $100/yr
City changed the drainage patterns; new flood zone maps were drawn and approved by the Feds.
city notified people that were affected by new maps
I did not renew my flood insurance
Mortgage company bought a flood policy for $1000 and wanted to charge me.
told them to pound sand; that I no longer needed it and would not pay the costs that they "incurred" for the policy;.
Click to expand...

Good for you, sometimes you've got to stand your ground, $1000 for 2 months, (and Dec and Jan are not hurricane season)=6K/yr rate, they were trying to bend over everyone, I'd be willing to bet they probably told my agent to let my coverage lapse on purpose and kicked $$ some over to them..
Click to expand...

Would not have surprised me if the bank insurance agency called up Fed Flood and ordered a policy for the same $100 that I originally had.

Then like you indicated; knowing the story; billed the bank $500.
 
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