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I have a first mortgage thru Wells Fargo and a second thru Citimortgage. Due to a variety of problems, my homeowners insurance was cancelled and I could not get a replacement policy since I had two claims in the past 5 years (one was only $400 for a flooded garage. The other about 5K home burglary). Both Wells and Citimortgage placed insurance. On the Citi account, my payment amount went up by $500 and about $300 on the Wells. Can they both place insurance policies?
Doesnt the policy on the first cover the second? Citi tells me that each policy only protects the interest of the individual mortgage company. THis is such a ripoff. I keep getting get the run around and have been on the phone trying to get help for at least 5 hours. I submitted a loan modification request which went into a black hole and they never did anything with it. THanks for your help. Kathy
Doesnt the policy on the first cover the second? Citi tells me that each policy only protects the interest of the individual mortgage company. THis is such a ripoff. I keep getting get the run around and have been on the phone trying to get help for at least 5 hours. I submitted a loan modification request which went into a black hole and they never did anything with it. THanks for your help. Kathy
