• Report: #24908

Complaint Review: World Savings Bank

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  • Submitted: Thursday, July 18, 2002
  • Last Posting: Saturday, January 11, 2003
  • Reported By: — Cape Coral Fl
World Savings Bank
MORTGAGE DIVISION Nationwide U.S.A.

World Savings Bank is an INSURANCE SCAM ripoff. Los Angeles, California


1Author 1Consumer 0Employee/Owner

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World Savings Bank holds my mortgage. I have not changed insurance compaines for the 2 and 1/2 years which I have lived in my home. World Savings bank issued a policy since they said I did not have one even though I did have a policy in place... The policy which world issued was $1,200.00 more than the policy I currently have in place...

I want to know how these modern day bandits can justify an insurance policy with a difference of $1,200.00 It just seems alot excessive... and I feel like I have been violated since they immediately deducted this from my account and basically just stole my money from me... Thief Thief Thief

Daphne
Cape Coral, Florida

This report was posted on Ripoff Report on 7/18/2002 7:56:17 PM and is a permanent record located here: http://www.ripoffreport.com/corrupt-companies/world-savings-bank/world-savings-bank-is-an-insur-aed6p.htm.

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1Author 1Consumer 0Employee/Owner
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#1 Consumer Comment

File a complaint with the Florida Dept. of Human Relations

AUTHOR: anon - Miami (U.S.A.)

SUBMITTED: Friday, January 10, 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!
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