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Report: #143647

Complaint Review: Countrywide Mortgage, Balboa Insurance - Simi Valley California

  • Submitted:
  • Updated:
  • Reported By: Cleveland Ohio
  • Author Confirmed What's this?
  • Why?
  • Countrywide Mortgage, Balboa Insurance SVB-314 P.O. Box 5170 Simi Valley, California U.S.A.

Countrywide Mortgage, Balboa Insurance ripoff Simi Valley California

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In September or October of 2004, I received notice from my mortgage company, Countrywide Home Loans, that my homeowner's insurance through Hanover Insurance Co was being cancelled because they would no longer be doing business with the company. I was paying $406 annually. I called Countrywide and was told by a Customer Service person not to worry, that another insurance company was going to be taking over with "comparable policies" for Countrywide customers. I got a policy from Balboa Insurance, and thought everything would be fine. I don't recall ever getting a quote, and I foolishly didn't pay attention to the detailed list of transactions on the back of my monthly statements. I assumed that my payment would be around what I was already paying, if the policies were going to be "comparable."

When I went to pay my June mortgage payment, I was stunned to find out that my escrow account is $1800 short, due to the fact that Balboa was sent a payment in November of $2100!!! So now I need to come up with the $1800, and my mortgage payment is going up over $200. If Countrywide owns Balboa, this seems like a bit of a scam to me. I've checked with other people in my area, and no one is paying even close to $2100 annually for homeowner's insurance in my area.

I can't be the only person with this problem, if Balboa took over all of the Hanover policies.

Lisa
Cleveland, Ohio
U.S.A.

This report was posted on Ripoff Report on 05/22/2005 05:08 PM and is a permanent record located here: https://www.ripoffreport.com/reports/countrywide-mortgage-balboa-insurance/simi-valley-california-93062-5170/countrywide-mortgage-balboa-insurance-ripoff-simi-valley-california-143647. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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