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Hole in roof reveals hole in insurance coverage

10:43 PM, Sep 12, 2013   |    comments
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JACKSONVILLE, Fla. -- Florida is number two when it comes to mortgage foreclosures, mortgage fraud probably ranks as high. 

Rosemary Toliver completed a mortgage modification in 2010 and was convinced she had crossed every 'T' and dotted every 'I.'  But a hole in her roof revealed that there's a hole in her loan modification plan.

"I don't have any insurance on the house," said Toliver.

The loan modification is with Walkhampton Capital Corporation, a Canadian investment company. And her documents show that she was paying for 'forced place hazard insurance.'

"I've been paying in my mortgage this insurance coverage," Toliver said.

Every month Toliver's paid $53 for insurance to cover damage to the building, but not her personal items.

"It is crazy, it is really crazy and I'm getting nowhere," said Toliver.

In August a tree branch fell and tore a hole in her roof. Toliver filed a claim and that's when she discovered a hole in her insurance coverage.

"When I contacted them he said I don't have hazard insurance," said Toliver. "He said they take care of it themselves."

She has since covered the hole with a tarp, but the ceiling on the inside has collapsed and now she has two estimates that says she needs a new roof; the cost about seven thousand dollars.

"I've been trying for two months to get some help," said Toliver.

Living on a disability income in 2010 Toliver entered into the mortgage loan modification. A review of the documents revealed terms some may find repulsive, the interest rate is six percent, the length of the loan is 50 years.

"I lost my job and I had no where to go," said Toliver. "I have been here 19 years and was desperate to keep my house and they knew I was desperate."

Recently, Walkhampton Capital sent Toliver a check for $2097, a refund of her insurance premiums but attached to the check is a settlement. Toliver refuse to cash the check.

"I mean I don't know where to go anymore, I have no where to turn," said Toliver.

Toliver has decided to file a complaint with the Florida's Insurance Commissioners office and the Attorney General.

The President of Walkhampton said the refund is fair and reasonable.

"I could not get her forced place hazard insurance," said Darcy Delainey. "She was in the the earned insurance fund. We wanted to help out by returning what she paid in."

FIRST FOR YOU:

Never pay any up front fees to a mortgage modification company.

Talk to your lender first or a lawyer before contacting a third party company.

If you suspect a scam call Florida's Attorney General at 1-866-9-NO-SCAM.

First Coast News

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