National Mortgage Complaint Center Wants To Hear From US Homeowners If Their Bank Or Loan Servicer Stuck Them With Forced Placed Insurance

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The National Mortgage Complaint Center is beginning a national initiative to expose banks, or loan servicing companies for ripping off home owners with forced placed insurance, and they literally want to hear from every recent victim. What is forced placed homeowners insurance? Typically forced placed insurance was put on homes, that were no longer occupied, because of issues related vandalism, and increased liability to the bank, in most cases because the home was unoccupied. As a rule forced placed insurance can cost three, to five times what a standard homeowners insurance policy costs. The National Mortgage Complaint Center says, "The big banks, and the major loan servicing firms have figured out there are huge profits in forced placed insurance, so they are arbitrarily putting forced place insurance on any homeowner they possibly can. We have had enough phone calls from consumers to know this is a gigantic problem, so we are encouraging homeowners, whose bank, or loan servicing company has stuck them with ultra expensive forced placed insurance to tell us their story via our contact on our web site." http://NationalMortgageComplaintCenter.Com

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The big banks, and the major loan servicing firms have figured out there are huge profits in forced placed insurance, so they are arbitrarily putting forced place insurance on any homeowner they possibly can

The National Mortgage Complaint Center is one of the premier advocates, and watchdog's for the US mortgage lending industry. The group is now beginning a new initiative designed to identify any US homeowner, who is needlessly paying for forced placed insurance to their bank, or loan servicing company. The National Mortgage Complaint Center says, "We believe there are 10,000's of US homeowners, who are paying an insurance premium three, four, or five times what it should cost, because their bank, or loan servicing company signed them up for a forced place insurance policy. We have recently talked to numerous homeowners, who actually have a standard homeowners policy with one of the major US property casualty carriers like State Farm, or Allstate insurance, and the horrified homeowner has just discovered their bank, or loan serving company also has a forced placed insurance policy on the same home. The only reason the homeowner even noticed was they thought their payments into reserves were way too high. We want to hear from any homeowner, who has been victimized by this practice." For more information please contact the National Mortgage Complaint Center via its web site at http://NationalMortageComplaintCenter.Com

The National Mortgage Complaint Center says, "In other instances of the forced place insurance scam, the bank, or loan servicing company has told the homeowner, quote unquote forced placed insurance will be required on your home." They say, "Unless the house has been abandoned, it is vacant, or the homeowner has stopped making mortgage payments, forced placed insurance should never be arbitrarily forced down the throat of an innocent homeowner. We do not think, we know the number of victims is in the 10,000's, or higher, its wrong, and we want to identify every US homeowner, who is a recent victim of the forced placed insurance outrage." The National Mortgage Complaint Center is encouraging homeowners victimized by the forced place insurance scam to contact them via the web site at http://NationalMortgageComplaintCenter.Com

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