Wilshire Credit Corporation is trying to foreclose on disputed flood water insurance coverage. Portland Oregon

Wilshire Credit Corporation used fraudulent behavior and Collection Agency Tactics to tried to take my home (Class Action Lawsuit Needed)

(((ROR redacted)))

Did not have my loans setup correctly when my loan was sold to Wilshire.
Creating a Late Payment chain reaction that took months to fix

Forced Flood insurance when I bordered a flood zone but did not live in it.

Because I could not win the argument and they would remove the forced flood insurance I got my own

Then they continued to try to charge me for Forced Flood insurance after I had provided proof I was insured through Farmers

The Forced Flood Insurance ordeal created a late payment when it was less than 48 hours late

Wilshire tried to bill me $800.00 for Forced Flood Insurance after they had received proof that I had my own Flood Insurance. Their website would not take a partial payment, so I had to wait until Monday to pay by Phone. Monday was the 17th and they reported me 30 late to the credit bureau.

Wilshire reported to the Credit Bureau that I was 30 late when in fact I was only 2 days late and would not have been late at all if they had not been charging me for something I did not owe.

Mortgage institutions do not report 30 days late until you are truly 30 late because of the negative impact it has on Credit Scores.

If I had not already been in the process of refinancing my credit score would have become so low that I would not have been able to refinance out of the ARM after 2 years.

This also created a situation where I had to pay a 5 point early payoff penalty

Was reporting to the Credit Bureau that I owed more than I barrowed on both loans

How did I owe more then I barrowed on an Interest only loan if all payments were made

How did I owe more then I barrowed on the secondary loan when I had paid extra
which now had me paying into principle and it reflected so on my monthly statements

Once I re-financed out from under them, Payoff Balances were $7000.00 higher than my billing statements + prepayment penalty points

I did not contest the amounts at the time because I needed to get out from under them so I took the losses at the time.

If you have a class action law suit please add me and I'll be happy to supply the proof necessary to show Wilshire is Faulding home owners

(((ROR redacted)))
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

Dear Indiana,
first of all, Just because you have faxed over an afadavid stating you are not in a flood zone the only thing that you can send that will be adequate for Wilshire is a letter from the Federal Emergency Management Agency stating you are not in a flood zone.

I am enclosing the number and web site for you to contact FEMA in your area.

As far as you having a lot of equity in your home that is great, but it does not determine how we take care of your loan. Wilshire is a servicer. We get paid a certain amount by the investor to handle his accounts. We abide by the contract that was originated when you signed your loan. We have nothing to gain by purchasing a flood policy. If you read your contract it says you must carry insurance on your home at all times and also pay your property taxes. If either one of these terms are not met we are forced to pay for them and then charge you for it. It is nothing personal. It is what you signed.

We live in a free country that allows people to do what they want. If you want to spend your hard earned money and take us to court you can, but I highly recommend you check the laws in your state regarding forced place insurance and make sure you are in the right.

Good luck to you and I still really hope you can work something out with us on your account.
Here is the number I advised you I would give.
Please call a Map Specialist in the FEMA Map Assistance Center; toll free, at 1-877-FEMA MAP (1-877-336-2627).

Allie36,

First of all, you should educate yourself a little further about our mortgage situation. We folllowed our original contract to the end. Wilshire then purchased a mortgage w/ over half equity that had a floodway that passed through a portion of it. They asked for proof of Homeowners Insurance first, after requesting we purchase a full year's worth @ the onset of their purchasing of our loan. How forgetful, or is it? As for having our insurance agent handle our business for us, Wilshire contacted them directly. After faxing 2 copies of proof of insurance to you, Wilshire still hounded us. As for flood insurance, I faxed and mailed DNR mapping to your company countless times. State Farm Insurance also sent documents stating flood insurance was not necessary. Regarding our losing our case in court, you have misspoken. The case is still open. Also why is it that the flood policy that Wilshire forced on us excluded my outbuildings when it turns out that those are the only items in the hazard area? Lastly, ask anyone at your company if they recall seeing an affidavit stating that my home is clearly not in the SFHA. This document was in the closing packet of the mortgage your company purchased!!!EDUCATE YOURSELF

First of all if you are concerned about us charging you for forced place flood insurance you should have read the many letters that were sent to you. We send three notices advising we need proof of flood insurance and when we receive no response after the third notice we pay for a policy for you because it is part of your contract to carry insurance on your home at all times. You say your agent was to fax over proof of insurance... I hear this all the time and cant help but ask why did you have your agent take care of your business? We have a phone number that you can call 877 464-0099

I also find it interesting that you took us to court and lost. What did we do wrong? We abide by the contract that you signed and did not do anything against that.

If you are not in a flood zone all you have to do is contact FEMA in your area and have them give you a letter stating you are not in a flood zone then we will not require you to have flood insurance.

It sounds to me like you let your account get so far past due and now there is not a lot you can do since the judge advised you to get your account caught up in 30 days or leave. If it was me I would contact Wilshire right away to work out arrangement. It is not too late hopefully and we will help you.

Last but not least, I sincerely hope you can get this worked out.
Take care