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The Real Deal: Bank Finally Comes Through for Flood Victims

Updated: Thursday, April 10 2014, 01:54 PM EDT

SLOANSVILLE - It's been a long road for flood victims across the Capital Region, many of whom still haven't or can't rebuild.  Whether it's weeding through the red tape with mortgage and insurance companies, or trying to deal with the bureaucratic levels of government, CBS6 is here to help. 

The Molesky family of Sloansville lost their home and all of their belongings in the flood caused by Hurricane Irene.  For months, they were fighting to get their flood insurance company to cover the damage.  They shared their story with CBS6's Jennifer Lewke back in October.  "It's devastating, you know when you go through the house there's my kids stuff in their rooms and my baby books, just you know, their bracelets that they came home from the hospital in--everything is just gone, the least they could do is help us start rebuilding our lives, give us the money from our policy and let us rebuild, that's all we want," says Nichole Molesky. 

Under pressure, the policy finally got paid but months later, the lender still hasn't applied the money to the mortgage and the Molesky's can't get a new mortgage to rebuild until the debt is satisfied.  "The recovery of this has almost been worse than the actual disaster think you're okay, you think you have insurance, you think you're going to recover quickly but in don't," Molesky says.  The bank recently started taping foreclosure notices to the front of the unlivable home. 

On Wednesday, CBS6 reached out to Bank of America on the Molesky's behalf to see what the hold up is with getting the mortgage satisfied.  On Thursday, BOA called the family to tell them the loan will be paid off in full and they will finally be free and clear of it. 

In a statement to CBS6, a Bank of America spokeswoman says, "We have contacted the Molesky's to make them aware that we are in the process of updating our system to show the loan as paid off.  We apologize for the delay and hope this resolves their concerns."  The company offered no further explanation of why the Molesky's couldn't get this problem solved on their own. 

"I had threatened, I had begged, I had everyone calling them at the top levels of government and it was shame, I think you shamed them into it," Molesky says.  Whatever the reason, she's just happy her family can now get a new mortgage, buy a nearby home and start to rebuild their lives.  "I told my daughter last night, she says, can we buy the new house this weekend?" she says. 

If you're having trouble with your mortgage or insurance company, first, try to speak with someone as high up in the company as possible.  Then, call your State and Federal lawmakers to see if their office can advocate on your behalf.  You should also check with the New York State Department of Financial Services. 

If you have a story idea or something you'd like the Real Deal on, email Jennifer Lewke anytime at

The Real Deal: Bank Finally Comes Through for Flood Victims

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Hello and thank you for stopping by The Real Deal web-page! I'm hoping you'll find some useful information here. I (Jennifer Lewke) will be updating this page daily to bring you the latest news on anything and everything that may impact your wallet. Whether it's a bad business trying to rip you off, a contractor who took your money and ran, the government wasting your tax dollars, or a telemarketer who just won't stop calling, my goal is to uncover it and hopefully prevent it from happening again!

On the right-hand side of this page, you'll see a section labled "Links" --these will all take you to websites for organizations that help protect consumers. Most of the groups have the authority to fine or shut down bad businesses so it's important to file the proper complaints to get some action.

I'm happy to look into any issue you have to get you the Real Deal. You can reach me anytime at (518) 381-4992 or by email at I hope to hear from you soon!

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