Wise men of Chiefsplanet

[TimeForWasp]

Walk down the street and knock out an unsuspecting person.

[Nirvana58]

Originally Posted by ChiefsNow

Walk down the street and knock out an unsuspecting person.

Honestly after wasting my day argueing with BB&T I feel like hitting something. Ask for a supervisor they kept giving me the run around. Said I could leave a message and they will call me back in the next week. What the hell are they doing just sitting in back counting all the money they are robbing from hardworking people.

[cdcox]

Originally Posted by Nirvana58

Honestly after wasting my day argueing with BB&T I feel like hitting something. Ask for a supervisor they kept giving me the run around. Said I could leave a message and they will call me back in the next week. What the hell are they doing just sitting in back counting all the money they are robbing from hardworking people.

Do stuff in writing. If you are on the phone, record them and tell them you are doing so. Be religious about it and tell everyone you are talking to that you are recording them. Ask them to show you the clause that allows them to change the terms of the loan. Make it clear that you will not roll over.

[cosmo20002]

Originally Posted by Nirvana58

Honestly after wasting my day argueing with BB&T I feel like hitting something. Ask for a supervisor they kept giving me the run around. Said I could leave a message and they will call me back in the next week. What the hell are they doing just sitting in back counting all the money they are robbing from hardworking people.

I could be wrong, but I don't think the mortgage company can force you to insure for an amount greater than what you owe them.

Before getting involved with an attorney that you'll have to pay, ask them to show you what is forcing you (a law? a term of the mortgage agreement?) to get the amount of insurance they are requiring.

[Nirvana58]

Update:

I finally got a hold of a BB&T supervisor. He basically told me that I was screwed and had to abide by the requirements. He told me in section 5 of page blah blah I signed a document stating basically that once Sunflower sells my loan that the new lender can change my mortgage agreement if it doesn't fit their requirements. That is contrary to every document I found in my agreement stating that my mortgage agreement wont change in anyway. (Also letters I recieved from BB&T) Also a signed document stating I only have to have the principle balance of my loan covered in flood insurance. I have called Sunflower stating they need to make this right and that is pretty decieiving tatics to let whoever buys my mortgage have the power to just change our legal agreement. I have also requested the document from BB&T that I supposedly signed. I know a real estate attorney that I am going to see if I can get a free consultation. I am also thinking about refinancing with another bank and just telling BB&T to **** off. (just sucks repaying all closing fees again but now its turning into the principle) I can't believe banks can get away with type of bullshit.

[cosmo20002]

Originally Posted by Nirvana58

Update:

I finally got a hold of a BB&T supervisor. He basically told me that I was screwed and had to abide by the requirements. He told me in section 5 of page blah blah I signed a document stating basically that once Sunflower sells my loan that the new lender can change my mortgage agreement if it doesn't fit their requirements. That is contrary to every document I found in my agreement stating that my mortgage agreement wont change in anyway. (Also letters I recieved from BB&T) Also a signed document stating I only have to have the principle balance of my loan covered in flood insurance. I have called Sunflower stating they need to make this right and that is pretty decieiving tatics to let whoever buys my mortgage have the power to just change our legal agreement. I have also requested the document from BB&T that I supposedly signed. I know a real estate attorney that I am going to see if I can get a free consultation. I am also thinking about refinancing with another bank and just telling BB&T to **** off. (just sucks repaying all closing fees again but now its turning into the principle) I can't believe banks can get away with type of bullshit.

Yeah, make them show you the document. Sounds like BS that if the mortgage transfers the new lender can change material terms. Doesn't sound like any contract I'm familiar with. Hell, I guess they could change the interest rate too, huh?

As you mentioned, the problem with refinancing somewhere else is you're out closing fees, plus if you just got your mortgage 6 months ago, your new interest rate might even be higher now.

[LOCOChief]

Originally Posted by Nirvana58

Update:

I finally got a hold of a BB&T supervisor. He basically told me that I was screwed and had to abide by the requirements. He told me in section 5 of page blah blah I signed a document stating basically that once Sunflower sells my loan that the new lender can change my mortgage agreement if it doesn't fit their requirements. That is contrary to every document I found in my agreement stating that my mortgage agreement wont change in anyway. (Also letters I recieved from BB&T) Also a signed document stating I only have to have the principle balance of my loan covered in flood insurance. I have called Sunflower stating they need to make this right and that is pretty decieiving tatics to let whoever buys my mortgage have the power to just change our legal agreement. I have also requested the document from BB&T that I supposedly signed. I know a real estate attorney that I am going to see if I can get a free consultation. I am also thinking about refinancing with another bank and just telling BB&T to **** off. (just sucks repaying all closing fees again but now its turning into the principle) I can't believe banks can get away with type of bullshit.

Your original lender Sunflower ****ed up. The requirements won't change from one loan servicer to the next. What is your pricipal balance vs replacement cost? IF you don't know look at the appraisal the bank required and look at the cost approach, cost of improvements. This shouldn't be a huge difference in premium. If you don't do this they will force place coverage which is 4x's the cost. Talk to you insurance agent. I finance properties on bridgeless barrier islands, this isn't a killer.

[Nirvana58]

Originally Posted by LOCOChief

Your original lender Sunflower ****ed up. The requirements won't change from one loan servicer to the next. What is your pricipal balance vs replacement cost? IF you don't know look at the appraisal the bank required and look at the cost approach, cost of improvements. This shouldn't be a huge difference in premium. If you don't do this they will force place coverage which is 4x's the cost. Talk to you insurance agent. I finance properties on bridgeless barrier islands, this isn't a killer.

The difference between the principal balance and replacement cost is over 70 grand. It is a pretty penny to me who schedule my bills accordingly not knowing I would need flood insurance. Long story short I bought a HUD home that they said wasn't in a flood zone but the Lender decided it was 5 days before closing. The new FEMA maps should pull my house out of the flood zone since I am the only house on the block in it. (I guess my the corner of my garage is in a flood zone and since it is connected to the house I have to be covered for the entire house). Everything I have read on the subject states legally you are only required to cover the balance of the loan. Do you know when this changed in the state of Kansas?