Tag Archives | does it matter if my homeowners insurance lapses

Tides Turning for Forced Insurance Policies by Lenders

Lapsing on mortgage payments usually means a lapse in paying homeowners insurance, and that can spell trouble.

Times can be tough, even in a state of slow economic recovery, especially for homeowners across America. Right now, homeowners throughout California are complaining about the outrageous rates required by the forced homeowners’ insurance policies purchased by their mortgage lenders.

According to Insurance Commissioner Dave Jones of California, these policies are “at a price higher than insurance they could obtain themselves”. Continue Reading →

Continue Reading

What Happens When Homeowner’s Insurance Lapses?

They're laughing all the way to the bank...at America's homeowners.

What happens? It’s not pretty, not pretty at all. As if homeowners aren’t having a hard enough time at the moment making payments and keeping their homes from short-sales (or worse, foreclosure), lenders are making it even harder.

Yes, you heard us—the LENDERS are making it harder on homeowners with one of their clever little “hidden practices” that are nice money earners for them. Continue Reading →

Continue Reading