Wednesday, March 30, 2011

The Continuing Force-Placed Insurance Squeeze

A recent column in The New York Times addresses the problems homeowners face when their mortgage servicers use force-placed insurance to gouge them out of outrageous premiums. Among the abuses reported: threatening homeowners with the imposition of force-placed flood insurance for homes and condos that may not necessarily be located in a flood plain.

For the column, see Insurance Dictated By the Bank.