Our mortgage was recently sold to Bank of America. Right before we closed on our home, we found out it was considered to be in a flood zone, so we had to purchase a year of flood insurance in advance, at a cost of $1781.00 per year, for a $ 58, 913.00 flood isurance policy, (the amount of our loan) in addition we obtained $109, 100.00 in homeowners insurance. Bank of America just sent us notice that our flood insurance is not adequate and we need to purchase an addition $50, 187.00 in flood insurance and must do so within 45 days or they would... read full review »