Posted on: 13th Dec, 2010 08:47 am
We bought our home last year . After about a year our mortage was bought by a different bank ,they are requiring a higher level of fl ood insurance which raised the payment more then $400.00 dollars .What I want to now is we signed the mortage at an agreed price and I know that there could be small increases but this is more that 100% can they do this?
Hi jeffspooket!
Welcome to forums!
Your mortgage has been sold off to a new company. They may have their terms and conditions for giving mortgage loans. You should have a word with them in this regard and try to sort out the issue. In case, you're unable to sort out the issue, you can try to refinance the mortgage with some other company.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Your mortgage has been sold off to a new company. They may have their terms and conditions for giving mortgage loans. You should have a word with them in this regard and try to sort out the issue. In case, you're unable to sort out the issue, you can try to refinance the mortgage with some other company.
Feel free to ask if you've further queries.
Sussane