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(EMAILWIRE.COM, April 20, 2012 ) New York, NY – The attorneys working with ClassAction.org would like to hear from homeowners who were forced or coerced by their mortgage lender into paying for an excessive insurance policy. It has been alleged that certain mortgage lenders are taking advantage of borrowers by force placing excessive and overpriced policies on consumers who let their policies lapse, or in some cases, homeowners who already carried adequate insurance. If you suspect your lender has forced you into paying for a costly, unnecessary or otherwise excessive insurance policy, you may have legal recourse to recover the high premiums associated with this coverage, as well as other damages. To find out if you are eligible, visit http://www.classaction.org/forced-placed-insurance.html for a free review of your claim.
When a homeowner lets their insurance lapse, their mortgage lender is legally allowed to buy insurance to replace it at the borrower’s expense. Certain lenders, however, have allegedly abused their ability to purchase insurance for their customers, overcharging them for unnecessary or backdated policies providing coverage retroactively. In some cases, the banks are receiving kickbacks or commissions for these purchases, the cost of which is expensed to the borrower, according to forced placed insurance lawsuits. It has been reported that forced placed insurance can be up to ten times as expensive as the policies homeowners could have purchased themselves.
Several mortgage lenders have already been hit with forced placed insurance lawsuits alleging that they engaged in deceptive and unfair practices in regard to lender placed insurance. Hazard insurance, homeowners’ insurance and flood insurance are among the types of policies which have allegedly been unfairly forced on borrowers. In light of these forced placed insurance lawsuits, the attorneys working with ClassAction.org are available to review claims from any homeowner who suspects their lender has unfairly forced placed an excessive insurance policy on them. To get a free evaluation of your claim, visit ClassAction.org today.
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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