Flood Insurance

[SLiP-N-SLiDe]

nope they were trying to get me to get it but then in the next week they sold my loan.

[Jaimecbr900]

nope they were trying to get me to get it but then in the next week they sold my loan.

Something's not right here.

Explain a little bit.

Your mortgage was approved and closed, right? For how long?

Then it was sold to Wells, who then demanded flood insurance?

If so, that's not the customary chain of events.

We do flood certs BEFORE we ever fully approve a loan in the FIRST place. That flood cert will say if it is or isn't in a flood zone. If you weren't asked for flood insurance in the beginning, they'd darn sure would be showing me a WHOLE lot of justifications why and why not.

100 yr flood planes are public record. You can check it out yourself. You can also call the original mortgage originator (the ones you put an application in with and helped you get approved) and ask them to check how their flood cert came back when they originally requested it. If they have records showing that the house is NOT in a flood plane and that's how they closed it, those records should be plenty to show your NEW Mtg. company that there is no need for flood insurance.

BTW, I'd get on doing this like yesterday. Wells will and can forcebly put that uber expensive flood insurance onto your mortgage. Then they're in no hurry to take it off or find a real resolution. You'll be left holding the bag and paying a crazy amt of money every month. Move on this quick.

Call your old Loan Officer and have him/her backtrack to find out HOW they got it closed w/o flood insurance in the beginning.