Legal Question in Real Estate Law in Florida

I own a property on Fernandina Beach.

My mortgage was underwritten by Wells Fargo and per underwriting of the loan I was required to have property taxes, hazard insurance, and flood insurance escrowed as shown on the HUD-1.

Wells Fargo is telling me that they are not going to pay the flood insurance even though they are escrowing for it. The flood insurance is on the eve of lapsing.

For 2 months, I having been calling, emailing Wells Fargo relating to this matter that they are legally obligated per the terms of the loan and escrowing to pay for the renewal of my flood insurance from the escrowed funds. However, they are refusing.

What can I do?


Asked on 7/25/14, 10:23 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

If you are making your full mortgage payment and they are required to pay your expenses out of the payment and refusing to do so, they are in breach of contract. Your remedy is a lawsuit.

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Answered on 7/26/14, 5:16 am


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