Flagstar claims that my homeowners insurance is insufficient to cover the cost of rebuilding if there's a total loss or the amount of my mortgage. My homeowners insurance guarantees replacement at 150% of the homes value which is much higher than my mortgage balance. I have called multiple times and cannot get a straight answer from them. They claim to have their own algorithm to determine how much coverage I would need. I think it's just a flat lie and an excuse to force an additional $700 charge against my account.

We refinanced our condo with Flagstar 1/2010. In December 2010, after submitting insurance documentation many times, they force-placed flood insurance on our condo and added the premium to our monthly mortgage payment. If i do not pay the "additional premium" part of the payment, they send me to a collection agency, then send us information on foreclosure.

There are 76 condos in our building and every other mortgage company has accepted the HOA flood insurance coverage. Flagstar is the only bank that has not accepted the coverage. They are a total ripoff!!! They will not tell me what i need in writing, but insist that i call a toll free number. I get a different "receptionist" every time who has no idea what Flagstar is requesting. The president of our property management company and the insurance agent for the HOA flood policy have no idea why Flagstar will not accept our coverage either. I have also spoken with our regular bank staff and USAA insurance--no one understands why Flagstar will not accept our coverage.

I applied for a loan modification in September 2009 when my job was cutting back hours and I thought that would be a good temporary lifeline which I thought was available and I also thought the company would be willing to fix a minor problem. I was just told to send in the same paperwork every month without a response and when I would call they just would tell me it was getting sent to a modification specialist and to just keep sending in pay stubs and bank statements. Finally got an answer when I called on October 14th 2010, they told, me my modification was denied and house was being sold at auction on October 15th which if you didn't notice was the next day. Later was served paperwork that they had filed an unlawful detainer lawsuit against me for living in a house that I wasn't paying for which I had tried to give them money but they refused to take it. I was 3 payments behind and had 2 payments that I could pay and they said because I had filed for a modification I wasn't able to pay at this time. I think this bank is a joke and I recommend never doing business with. They set you up for failure telling you to be delinquent before they can help you and then refuse to take your payments until they come to the decision of denial for a program that the guidelines to qualify are your exact situation and now you are so far behind there is no way to catch up and they take your house. DON'T DEAL WITH THIS COMPANY

After the sudden death of my co-borrower and love of my life to brain cancer, I contacted Flagstar Bank to see if I could get a loan modifacation to lower my payments so I could manage them myself. They have drug this process on for nearly 2 years. Asking me over and over for the same information. Which I continue to provide to the best of my ability. I do not want to loose my home. It is also where I make my living. But I can't seem to be able to provide the Bank with what they need to help me. I am terrified! And need help.

I applied for a refi loan thru the new federal program to reduce my monthly payment. It's been almost 4 months since I started the process. I was told by the loan offficer that he would only use a portion of my income to qualify. Lo and behold, I received a denial letter about a month later saying I did not qualify based on my income. I contacted them and asked why all my income was not considered in the first place. Then, I faxed over proof of all of my income, which was more than suffcient. Another month passed and I received an email indicating conditional loan approval. More time passed nd I called to find out what happened, only to discover that they had done nothing more. They said that they needed more clarification of income verification which I had already sent them previously. I faxed over the info once again and heard nothing further. On Nov 22, I called again since I had no response and they said that they needed the same income information I had faxed them previously. I was irate, to say the least and told the processor to just cancel the loan as I was fed up sending the same documents over and over! I did not hear from her again as I suspect that they had no intention of funding this loan from the beginning and were just stalling by asking for more and more documentation even though I have excellent credit, no bills, (other than my house note) and more than sufficient income. This is a travesty!