SUBMITTED: Friday, January 10, 2003
POSTED: Saturday, January 11, 2003
Hello--
Since you already have the mortgage, I am not sure if you can file a complaint with HUD, but you might want to see. What World Savings has done with your insurance situation is a common ploy, if you research the internet using the search words "predatory lending" you will see that insurance is often a scam packed into mortgages as a money making ploy on the part of the bank. The fact that they deducted it after your mortgage was in place seems even more sleazy, and I believe actionable under "truth in lending" guidelines.
You are another customer screwed by this bank in the state of Florida. This bank is headquartered in Oakland, California. It's a 65 billion dollar company. Let the regulating agencies, such as the Florida Banking Commission and others know of your situation. If you do a search under "predatory lending", you might find other things this bank did with your mortgage that were illegal.
Good luck!