Comments on: WSJ | ‘Forced’ Home Insurance Policies Face New Scrutiny https://4closurefraud.org/2012/03/08/wsj-forced-home-insurance-policies-face-new-scrutiny/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Fri, 09 Mar 2012 14:23:15 +0000 hourly 1 https://wordpress.org/?v=7.0.7 By: Beth A> https://4closurefraud.org/2012/03/08/wsj-forced-home-insurance-policies-face-new-scrutiny/#comment-355598 Fri, 09 Mar 2012 14:23:15 +0000 https://4closurefraud.org/?p=43909#comment-355598 Kimberli – excellent question!!!!

In our case, our policy premium increased when we switched auto insurance companies. The cost was startling. We were re-pricing…and the policy lapsed (our error) briefly. I contacted the insurance company to have the insurance put back on = but at a lower face amount. The place wasn’t worth a million anymore….no was the full replacement value.

Interestingly, the insurance co. (same one policy was with) felt it needed to “start over” by sending out a rep to photo, etc. — even though the cover lapse was just a few weeks. Literally – the full walk-thru, etc. I needed to make arrangements to be on-site for this process.

OK….then, in the meantime, the mortgage service slaps a force-placed policy on the place for $1 million face…a HUGE PREMIUM and they didn’t have to schedule an insurance rep walk-thru w/photos, etc.

THIS FORCED COVERAGE CAME VIA THE EXACT SAME INSURANCE COMPANY! It looks like they just reinstated the same coverage – but at a much higher premium. UNREAL!!!!!!!!!

]]> By: acmodspecialists https://4closurefraud.org/2012/03/08/wsj-forced-home-insurance-policies-face-new-scrutiny/#comment-354933 Fri, 09 Mar 2012 00:52:38 +0000 https://4closurefraud.org/?p=43909#comment-354933 Even people that has home insurance sometimes they get that forced insurance anyway on top of the one the homeowner is paying, causing the homeowner to default and then there is a spiral of fees and outrageous penalties until the homeowner loses his home forced insurance is another scam form the banks !

]]> By: Kimberli Wilson https://4closurefraud.org/2012/03/08/wsj-forced-home-insurance-policies-face-new-scrutiny/#comment-354845 Thu, 08 Mar 2012 23:06:11 +0000 https://4closurefraud.org/?p=43909#comment-354845 Why are so many empty homes in such bad shape, if they all have this very expensive force placed insurance on them? Why have the air conditioning units not been replaced? etc… Rackateering??????

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