FLOOD INSURANCE is at the highest price ever.I paid more for flood that HAZARD Ins.
in Florida. Even, I have to take a $10,000.00 deductible to try to lower the payment. NOW I have the mortgage company CENLAR forcing me to have an escrow account because I am in a flood area and is mandate by FEMA. Since I purchase the property, I know it was in a flood zone and I purchase flood insurance and requested to the original mortgage company to do my own escrow account which they agreed.
They sold to CENLAR and they said now that FEMA mandate that all mortgage after January, 2016 are FORCE TO HAVE AN ESCROW ACCOUNT making double of what I paid for my already FLOOD INSURACE.GRAET, now the federal government is forcing the Mortgage Lenders to screw the borrowers and have increase in their mortgage payments, creating a FINANCIAL HARD SHIP to Borrowers.
Review about: Fema Flood Insurance.
Reason of review: Forcing to have escrow account.
Preferred solution: Stp forcing borrower to have mandated escrow account increasidng mortage payments.
I didn't like: High price and forcing to have escrow accounts.