Problem with FHA mortgage insurance

Status
Not open for further replies.

robertr

New Member
Recently I attempted to do an FHA streamlined refi on my home loan. The company doing the refi informed me that the loan couldn't go through because the loan has no FHA mortgage insurance. I verified this with the FHA--the FHA case number listed on my mortgage statement does not exist in the FHA database. I called the loan holder, Bank of America, and they insist the loan DOES have FHA mortgage insurance. I explicitly asked them if the loan has ANY kind of mortgage insurance other than FHA MI, and they said no. To date I have paid over $1500 for something that doesn't exist, and continue to pay $86/month. BOA says they will send me a form to cancel the MI payment, but how can I recover what I've already paid? FHA says they can't/won't document the fact that the MI doesn't exist, and BOA refuses to accept what the FHA says.
 
You're out $1,500. But, you had no deaths, so you've fortunately not had to make a claim.

You can waste your time suing in small claims.

You can speak with a lawyer, who'll want more than the $1,500 you appear to have lost.

You can write a letter to the CEO or some other Boss Hogg and ask for a refund.

Or, you can do what I'd do, cut my losses and move on!
 
Status
Not open for further replies.
Back
Top