What Can I Do?

[pixiegirl]

Ok here's the deal.... Our realtor set us up with our mortgage company. We picked out our house and made on offer based on what we were told our monthly payments would be. The week before closing we get the ol' "sorry but you didn't qualify for that loan program but I can offer you this other one at almost double the payment." Of course we said no way, had to extend closing to find an alternate loan... My realtor was suppose to be doing the legwork (I don't think she did ANYTHING) because she kept telling me that what we were being offered was competative. I find my own funding but we'd have to go through the entire process again and the sellers were not willing to extend the closing again (understandably). So we're getting ready to walk away from the house and all the sudden the original mortgage company offers us something decent. In order to get the house we agree upon terms and such. So it's closing day and low and behold my HUD 1 forms are different from what I agreed upon. I'm at the title company on the phone arguing with the guy from the mortgage company. I finally get what was agreed upon and we settle on our house.

Fast forward 3 months. Friday I get a call from my homeowners insurance telling me that my policy is up for cancellation today. I ask why and am told for "non-payment". I'm floored. I prepaid a years worth of insurance at settlement. So then this girl looks in her folder and says "Oh year there is a check in here. I'll look into why you're up for cancellation and call you back." So I get a call back this morning. "Your policy is set to be cancelled today because the check came back for insuficiant funds." I tell her that the check didn't come from me that it should have come from the mortgage company or the title company or something. So she goes and looks and sure enough it's from the mortgage company.

So she's calling them now and trying to straighten things out. My question is besides word of mouth and blasting these people what can I do? Who can I contact etc. to report them?

 

[Chasey_Lane]

Get out of the deal and start over. Is this what you want following you around for the next few years?

 

[fddog]

better business beuro

 

[suzeQ]

Get out of the deal and start over. Is this what you want following you around for the next few years?

I have to agree with Chasey, Pixie. It sounds like a sour deal from the beginning. Take it as a bad omen and walk away. There's another house for you out there, waiting for you to find it.

 

[Otter]

My question is besides word of mouth and blasting these people what can I do?

Red karma

 

[pixiegirl]

Get out of the deal and start over. Is this what you want following you around for the next few years?

My mortgage was sold to another company who I've had no issues with and have been paying since November. There's no deal to get out of. The problem at hand is that they wrote a bad check to the insurance company. I paid that money at closing. Luckily if need be I have the money on hand to pay the insurance straight out of pocket but then there is still the issue of it should have already been paid at closing by the mortgage company and they will owe me that money.

 

[Bogart]

Our realtor set us up with our mortgage company.

I would start here.

 

[crabcake]

better business beuro

at least you have good looks!

 

[suzeQ]

there is still the issue of it should have already been paid at closing by the mortgage company and they will owe me that money.

You'll never see that money again if you pay it out of pocket.

 

[pixiegirl]

I have to agree with Chasey, Pixie. It sounds like a sour deal from the beginning. Take it as a bad omen and walk away. There's another house for you out there, waiting for you to find it.

I've got the house. We settled in November. Done deal and it's ours. My issue is the bad check that they wrote to the insurance company.

 

[workin hard]

My mortgage was sold to another company who I've had no issues with and have been paying since November. There's no deal to get out of. The problem at hand is that they wrote a bad check to the insurance company. I paid that money at closing. Luckily if need be I have the money on hand to pay the insurance straight out of pocket but then there is still the issue of it should have already been paid at closing by the mortgage company and they will owe me that money.

Since you have proof that you paid it to the mortage company shouldn't the insurance company take it up with them to get payment? :shrug:

 

[Bogart]

For all advising walk away - I was unaware that you could simply abandon a house and a mortage. Please explain to me how this works. Especially the part about your credit rating.

 

[pixiegirl]

I would start here.

She's a POS too unfortunately. Never use PG County realtors is all I have to say. But what if I contact Remax?

 

[crabcake]

BBB is a good first place to go. Another might be the state board of realtors ... they may not be able to do anything, per se ... but the may have some suggestions of who to call to file a complaint aside from the BBB. They also may have some avenue for putting the word out about a shotty title/mortgage company.

 

[Bogart]

Since you have proof that you paid it to the mortage company shouldn't the insurance company take it up with them to get payment? :shrug:

And if your house burns down in the meantime and you have no insurance because you left it up to someone who couldn't care less? Stop giving stupid advice, people.

 

[pixiegirl]

Since you have proof that you paid it to the mortage company shouldn't the insurance company take it up with them to get payment? :shrug:

That's what they're trying to do now but it doesn't change the fact that my insurance is up for cancellation today for non payment.

 

[Pete]

Since you have proof that you paid it to the mortage company shouldn't the insurance company take it up with them to get payment? :shrug:

Insurance company doesn't care. They want money to extend coverage. No money no policy.

 

[crabcake]

For all advising walk away - I was unaware that you could simply abandon a house and a mortage. Please explain to me how this works. Especially the part about your credit rating.

I don't think they realized she's living in it now.

 

[crabcake]

That's what they're trying to do now but it doesn't change the fact that my insurance is up for cancellation today for non payment.

Pix ... if you have the cash on hand to make the policy current, I'd do that, and then I'd sick your pitbull-like attitude on the company that was supposed to pay the bill. I know you can make 'em pay, girl. Your insurance company should then either credit your account, or refund the additional money to you.

It's times like this that Murphy likes to rear his ugly head; don't be w/o coverage if you have the means on-hand to be covered -- even though it's some other jackass's fault.

 

[Bogart]

I don't think they realized she's living in it now.

They shouldn't attempt to give advice without reading the entire post. Like the part that says "we settle on our house"