Chase’s sleazy mortgage refinancing
Personally, I have found mortgage brokers less honest than used car salesmen, so the fact that a mortgage broker working for Chase slipped in an extra flood insurance policy into escrow for a refinance doesn’t surprise me.
I went to refinance my home, in doing so, it came to my attention that the flood insurance had been added to my escrow account without notification. Three years ago my house had been rezoned into the 100 yr. flood zone. Although I have had a separate flood policy with Allstate, it was grandfathered in. I was never notified that I was being charged for insurance through may escrow account. When I went to refinance
with Chase a couple of months ago, this is where I found it. I have been on the phone for hours at a time to resolve this issue, only to be transferred from one branch to another on several different occasions. I finally called my insurance agent to get payment history from Chase for the flood insurance and the only history they have is where I paid the policy myself, even though they have been taking it out of my escrow account for the past three years. No one with Chase will tell me where the money went. The are telling me that Allstate has been paid, Allstate has showed me records where they have only received payment from me. Chase won’t show me any records at all. They are crooks and owe me several thousand dollars for overpayment of flood insurance. I am looking for another mortgage company different from Chase, I will move my Money Market Account, Savings, Checking, My Mother’s account and my mother in law’s account out of that bank if some thing doesn’t get resolved in a hurry. The have gotten far to big and don’t care about customer service. What they don’t realize is that there are other banks that would like to have our money. Don’t do business with them you will regret it.
Bad bad Chase | admin September 10, 2010
