Flagstar Bank Mortgage Complaint

Flagstar Bank Mortgage department,

FHA mortgage Application, originator, mortgage broker California

I purchased a house on - -, 2015 - financed through - - - out of - -, CA. I obtained a FHA fixed rate loan - payment $2100.00 mo. I received a notice from my bank a couple of weeks ago stating that my payment is going up $ - month!! This raise is due to insufficient impounds. I am short $4500.00. In addition, my payment will not be $2100.00 a month, but $2400.00. In reality, my payment was NEVER going to be the $2100.00 a month I had agreed to. Although I know that taxes can change when you buy a house, this amount is unreasonable. Also, my country tax assessor informed me that my taxes did not go up, they went down. I know that all parties were aware that my taxes were high and that I have a -. I not only spoke with the real estate lady about the high taxes, I also talked with the lender on several occasions about my high taxes. I feel that my lender intentionally misled me as to my monthly payment knowing that I would not accept the $2400.00 payment, I would not have bought the house. I had


payment amount, he claimed they calculated my taxes at the allowed - % of the sales price. When I was obtaining my loan, I had spoken with my lender on several occasions about my taxes being high and he assured me that the payment he quoted me accounted for piti. I feel the lender deliberately misled me into believing that my payment would be $2100.00 a month, knowing that a year later I would find out the truth and could do nothing about it. I am a - year old single woman. Although I have a good income at this time, I plan to retire in the next 3 to 4 years. I am already having health issues. When I retire, my income drops considerably. I will not be able to afford to pay a $ - monthly payment. My goal was to use my extra income to pay on the principal for the next 3 years and then refinance to a lower payment when I retired so I could afford the monthly payment. Now, thanks to my lender 's " miscalculations '', I will not be able to afford my home in 3 years and will be forced to lose it or sell my home. I no longer have the " extra '' income to pay my loan down thanks to my new payment. The reason I know that the lender was aware of my high taxes, in addition to talking with him, is it was disclosed on the preliminary title report which the title officer said all parties received. I thought that California was a full disclosure state - I hardly think that $720.00 a month or even the $260.00 a month increase in payment was full disclosure. I know people who do n't qualify for their loans based on those amounts. I thought I was protected and safe with a company referred to me by my - - - and with a FHA loan. I am now worried about whether I will be able to keep my home and feel very cheated and violated.