Maybe I should have titled this, Keeping Them Honest - 4th Edition. Today I received a letter in the mail from the mortgage company informing us that, according to their records, we have let our Windstorm Insurance expire. Furthermore, they will be purchasing a policy on our behalf that is "significantly more expensive than insurance you can buy yourself" - word for word in the letter. It should come as a surprise to no-one that our Windstorm Insurance did not expire; in fact, I went to the insurance agency in person to pay so that I would have all of my documentation just in case there were any issues. So, what does the mortgage company have do gain (other than up-charging us on an insurance policy)? They are still holding a chunk of our insurance money and one of their guidelines states that they will send us disbursements of insurance money as long as our account is in good standing. Pretty convenient for them that they "don't have" our Windstorm renewal - sounds a lot like them trying to create an issue.
In case you have read every blog post, our mortgage company is Mr. Cooper (formerly NationStar). I can't wait until the house is finished and we can get away from this mortgage company that owns both the loan for Rocky Creek and the loan for the house we live in. If you have them too, run to your nearest credit union and re-finance!
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