News 12 at 6 o'clock / November 4, 2013
NEW ELLINGTON, SC (WRDW)
"We purchased a home thinking we would be able to stay here for our entire lives if we wanted to," says Trevor Tucker.
After signing on the dotted line, Trevor and Brittany Tucker thought the stress of buying their first home was over. But three months after moving in they got some unexpected news. "It's been a tremendous burden on me and my family," says Trevor Tucker.
That is when the lender that bought out his loan notified him that his monthly mortgage payment would be increasing to nearly $800 a month, more than $200-dollars higher than the original payments.
"They force placed flood insurance on me which in turn made my house payment go up," says Tucker. He says the lender never told him the property had been designated a flood plain since the mid 1970's. "They're supposed to let you know," says Tucker.
He says his questions went unanswered. He snapped pictures of his flooded backyard this summer. Now the least of his problems. "They are trying to foreclose on me due to me not being able to afford the payment," says Tucker.
He hired a lawyer and is countersuing. The lawsuit alleges among other things, Professional Lending LLC's failure to make disclosures before extending credit was willful, deliberate and calculated and on the federal truth-in lending disclosure statement it did not indicate that insurance would be required for the loan.
"There's four check marks that are available there and flood insurance was not checked on my home loan," says Tucker.
He says he does not believe it was simply an oversight.. "In my opinion I believe it was intentional," says Tucker. He says if he could do it all over again. "I would advise, become as educated as you can about the matter before you get into the process of buying a home," says Tucker.
News 12 tried to reach Professional Lending LLC for comment. One number was disconnected and the other turned out to be a different lending company.
Experts suggest before you sign up for a home, that you check out Floodsmart.gov, to see if the property you are interested in buying is in a flood plain.
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