• Report: #466322

Complaint Review: Bank Of America

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  • Submitted: Tue, June 30, 2009
  • Updated: Mon, July 20, 2009

  • Reported By:Taylorsville Utah
Bank Of America
my.countrywide.com/Default.aspx Dallas, Texas U.S.A.

Countrywide Home Loans, Now Bank Of America Forced Placed Insurance on Home Owners Association Insurance Dallas Texas

*Consumer Comment: No, insurance vs foreclosure?

*Consumer Comment: No, insurance vs foreclosure?

*Consumer Comment: No, insurance vs foreclosure?

*Consumer Comment: No, insurance vs foreclosure?

*Consumer Suggestion: Placed Insurance vs Foreclosure

*Consumer Suggestion: Placed Insurance vs Foreclosure

*Consumer Suggestion: Placed Insurance vs Foreclosure

*Consumer Suggestion: Placed Insurance vs Foreclosure

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I purchased a condo in Utah in 2006 through Countrywide, which was then sold to Bank of America (without any knowledge on my part). I am never been late on a mortgage payment, insurance or taxes. I received a message through Bank of America's "message center" when I paid my August mortgage payment (on June 16, 2009) which indicated my insurance was going to expire on 7/1/09. Thinking I might have lost track of the payment of my home owners insurance, I paid it in full through 2/2010. However, this was NOT the insurance Bank of America was referring to. It was, instead, the insurance due from the Home Owners Association. They threatened to place forced placed insurance for the entire complex (almost $10 million dollars) if I did not have the insurance paid in full by 7/1/09. It took more than a week, several phone calls, e-mails, etc. I had to harass my HOA and they had to take the check (for $1200) directly to the insurance agent last night in order for the policy to not expire.

I spoke with my HOA (who was thankfully very understanding and helpful) who indicated they had NEVER heard of a problem like this in the past 35 years and I was the ONLY resident to ever have a problem such as this. Be AWARE of Bank of America trying to foreclose on people in any way possible. They are actively participating in fraudulent and dispiciple behavior and I truly hope karma finds them and gives them what they deserve!

Keirie
Taylorsville, Utah
U.S.A.

This report was posted on Ripoff Report on 06/30/2009 08:42 AM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-Of-America/Dallas-Texas/Countrywide-Home-Loans-Now-Bank-Of-America-Forced-Placed-Insurance-on-Home-Owners-Associa-466322. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 8Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

No, insurance vs foreclosure?

AUTHOR: Rubyirving1 - (U.S.A.)

I don't think so, forcing anyone with insurance or taxes CAUSES foreclosures as I am dealing with the same thing. I understand the bank is looking out for their interest, but forcing someone to pay more for something they couldn't already afford (during the time alloted through the lending co's.) only forces worse things to happen.
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#2 Consumer Comment

No, insurance vs foreclosure?

AUTHOR: Rubyirving1 - (U.S.A.)

I don't think so, forcing anyone with insurance or taxes CAUSES foreclosures as I am dealing with the same thing. I understand the bank is looking out for their interest, but forcing someone to pay more for something they couldn't already afford (during the time alloted through the lending co's.) only forces worse things to happen.
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#3 Consumer Comment

No, insurance vs foreclosure?

AUTHOR: Rubyirving1 - (U.S.A.)

I don't think so, forcing anyone with insurance or taxes CAUSES foreclosures as I am dealing with the same thing. I understand the bank is looking out for their interest, but forcing someone to pay more for something they couldn't already afford (during the time alloted through the lending co's.) only forces worse things to happen.
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#4 Consumer Comment

No, insurance vs foreclosure?

AUTHOR: Rubyirving1 - (U.S.A.)

I don't think so, forcing anyone with insurance or taxes CAUSES foreclosures as I am dealing with the same thing. I understand the bank is looking out for their interest, but forcing someone to pay more for something they couldn't already afford (during the time alloted through the lending co's.) only forces worse things to happen.
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#5 Consumer Suggestion

Placed Insurance vs Foreclosure

AUTHOR: Bubba Ho-tep - (U.S.A.)

Your HOA's delinquincy caused this, not your bank. Although I have never heard of an individual having forced insurance for the entire complex that they live in, it is still a requirement of the loan. Having forced insurance placed on your mortgage is not even close to being foreclosed on.
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#6 Consumer Suggestion

Placed Insurance vs Foreclosure

AUTHOR: Bubba Ho-tep - (U.S.A.)

Your HOA's delinquincy caused this, not your bank. Although I have never heard of an individual having forced insurance for the entire complex that they live in, it is still a requirement of the loan. Having forced insurance placed on your mortgage is not even close to being foreclosed on.
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#7 Consumer Suggestion

Placed Insurance vs Foreclosure

AUTHOR: Bubba Ho-tep - (U.S.A.)

Your HOA's delinquincy caused this, not your bank. Although I have never heard of an individual having forced insurance for the entire complex that they live in, it is still a requirement of the loan. Having forced insurance placed on your mortgage is not even close to being foreclosed on.
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#8 Consumer Suggestion

Placed Insurance vs Foreclosure

AUTHOR: Bubba Ho-tep - (U.S.A.)

Your HOA's delinquincy caused this, not your bank. Although I have never heard of an individual having forced insurance for the entire complex that they live in, it is still a requirement of the loan. Having forced insurance placed on your mortgage is not even close to being foreclosed on.
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