I just had recieved a letter stating I was late on my September & October mortgage payments and to call Flagstar Bank ASAP to discuss why I was late!!! Well in a nutshell Flagstar decided to increase my monthly mortgage payment by $507.00 due to they told me that they had miss calculated my escrow account aftwer I have been with them for a year and half!!!
I was just amazed at the poor customer service and how they think I'm so *** and to think I'm going to pay them the additional cost when it was their mistake!! and also I have a 30 year fixed rate!! I will be contacting the consumer affairs and whoever else I need to due to I had a contract with Flagstar Bank and I never consented or approved them to increase my monthly mortgage payment!!!I can't believe what a bunch of crooks Flagstar is and want everyone out there to know what type of a business they run!!! I told them that I could pay me taxes, flood insurance, and homeownwers on my own and don't need a babysitter to watch my money!!
Also they are basically ripping me off by increasing my monthly payment to $507.00 per month when they already have aproximatley 350.00 in the escrow impound account!!! Do the math that would be $857.00 they would be taking from me !!! My taxes, flood insurance, and homeowners totals at $6,613.00 per year!!! Flagstar Bank would be collecting $10,284.00 !!!
which is $3,671.00 that they are stealing from me!! not to say also they are'nt honoring their agreement with me on the original loan!!
So if anyone out there has encountered this type of problem I would like to know and also what has transpired. Thanks Bo Viescas
Product or Service Mentioned: Flagstar Bank Mortgage.