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(EMAILWIRE.COM, February 10, 2012 ) New York, NY – The forced placed flood insurance attorneys working with Class Action.org are looking to hear from property owners who had excessive or unnecessary flood insurance forced placed on them by their bank or mortgage company. It has been alleged that certain financial institutions have been forcing or coercing borrowings into buying or maintaining more flood coverage than what is necessary for their home or condo and possibly receiving kickbacks for these purchases. If you had unnecessary or excessive flood insurance force placed on your property, you may be able to seek compensation for the money paid out for this coverage. To find out if you are eligible, visit http://www.classaction.org/forced-placed-flood-insurance.html for a free case review.
Several banks are facing forced placed flood insurance lawsuits from borrowers who claim they had to pay for excessive or unnecessary coverage. A property owner may be eligible to file a forced placed flood insurance lawsuit if their lender required them to purchase flood coverage in excess of federal requirements or whatÂ’s required to protect the bankÂ’s interest in the property. Likewise, if a property owner was forced to pay for flood insurance after an acceptable policy was refused or a second flood insurance policy even though they were covered by existing coverage, they may also be able to file a claim against their lender for compensation associated with the costs of the unnecessary or excessive policy. It has been alleged that the high costs of these forced placed flood insurance policies are being expensed to the borrower in either that they are added to the borrowerÂ’s monthly mortgage payments or taken from their home equity account.
For more information on forced placed flood insurance lawsuits, visit Class Action.org today. While several banks have already been named in forced placed flood coverage lawsuits, the attorneys working with the site want to hear from any borrower who suspects they have been subjected to these alleged practices. If you had unnecessary, overly costly or excessive flood coverage forced placed on your property, receive a free evaluation of your claim by visiting Class Action.org.
About Class Action.org
Class Action.org is dedicated to protecting consumers and investors in class actions and complex litigation throughout the United States. Class Action.org keeps consumers informed about product alerts, recalls, and emerging litigation and helps them take action against the manufacturers of defective products, drugs, and medical devices. Information about consumer fraud issues and environmental hazards is also available on the site. Visit http://www.classaction.org today for a no cost, no obligation case evaluation and information about your consumer rights.
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