News on U.S. government agencies, U.S. politics, companies doing business with U.S. federal government. Read U.S. national and local news. This site is not affiliated with United States Government.
(EMAILWIRE.COM, April 21, 2012 ) New York, NY – The attorneys working with ClassAction.org are available to review complaints from property owners who suspect an excessive hazard insurance policy was forced placed on them by their mortgage lender. Allegedly, certain lenders are forcing placing exorbitantly priced and, in some cases, backdated insurance policies on borrowers who have no choice but to pay for these high cost of this coverage. It has been alleged that these practices are violating the rights of homeowners, who may have legal recourse as a result. If you suspect your lender has forced or coerced you into paying for unnecessary, backdated or otherwise excessive hazard insurance, you may be able to file a claim to recover the premiums paid out for this coverage, as well as other damages. To find out if you are eligible, visit http://www.classaction.org/forced-placed-hazard-insurance.html and complete the free case review form.
A number of big name lenders have already been hit with forced placed hazard insurance lawsuits, claiming that the banks engaged in unfair and deceptive business practices. These cases make a number of allegations, including that certain lenders are backdating forced placed hazard insurance to collect for time periods which have already passed and force placing insurance even when the borrowers’ loan documents do not require it. Furthermore, forced placed hazard insurance lawsuits are claiming that the lenders are receiving kickbacks or commissions for purchasing these policies, which can reportedly cost up to ten times as much as coverage the borrower could have bought on their own.
When a borrower does not maintain hazard insurance or experiences a lapse in coverage, their lender is legally permitted to purchase a policy on their behalf. However, it has been alleged that certain lenders are taking advantage of this authority by purchasing costly hazard insurance which provides little meaningful benefit to the borrower simply to increase their own profits. To learn more about the allegations posed in forced placed hazard insurance lawsuits, visit ClassAction.org today. The attorneys working with the site are also providing a free case evaluation on the site and are looking to hear from anyone who suspects they are paying for an excessive lender placed insurance policy.
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.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:
