The closing company on my mortgage, told me I didn't need a elevation certificate and a flood insurance policy. I will save hundreds of dollars they told me. USAA Mortgage signed-off on my new townhouse.
Months pass and USAA Insurance says I need flood insurance. So I send flood documents from MIAMI-DADE COUNTY which uses Federal Emergency Management Agency . These documents say.. Zone X, not in a flood zone. The Closing Company also used this website to determine if I needed flood insurance before closing.
So I fax these documents to USAA. They told me... "we don't use third party websites, only from Federal Emergency Management Agency." ...I told USAA, look at the bottom of the page you'll see the information is supplied by them. USAA didn't care. Must come from Federal Emergency Management Agency personally.
Early next year, USAA told me they will force a flood insurance policy on me for $2000 dollars for LAST YEAR. I asked USAA... "is that legal?" They said yes.
I told USAA wait, I'll get a flood policy. So paid for a elevation certificate out of my pocket and got a flood policy for...$303.00
USAA didn't wait and charged me $2000 for the last year and took the $303 for the coming year.
My old mortgage was $634 and now $848. "THANK YOU USAA" Thank you for not practicing in good faith with me. I guess greed is the bottom-line.
Here's the kicker....USAA Mortgage had the closing documents before closing, and didn't notice that the flood insurance was missing.
Also...We have USAA members that own townhouses in my complex. They're NOT PAYING FLOOD INSURANCE and one USAA member lives on a canal.
So I asked USAA insurance Rep about this....and she had no answer!