The National Mortgage Complaint Center (NMCC) is looking to hear from U.S. homeowners who have been the victims of forced-placed homeowners insurance by their bank or loan servicer. The NMCC says this is becoming a growing problem among homeowners, which is why it wants to address all complaints as soon as possible.

What is Forced-Placed Homeowners Insurance?

According to the National Mortgage Complaint Centera major watchdog for the U.S. mortgage lending industryforced-placed homeowners insurance is coverage placed on a home that is no longer occupied, likely due to a foreclosure, and vulnerable to vandalism.

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As the result of an agent selling worthless homeowners insurance policies to Florida residents, dozens of elderly are now at risk of losing their homes, the Department of Financial Services said on Thursday. Numerous complaints were filed against the agent only to reveal that she had been using money received to pay her personal expenses.

Residents Left Without Coverage

According to the department, 50 complaints were filed with the state that residents in Sarasota County had paid their insurance premiums for as long as two years to Debra K. Wanless who was supposed to be providing coverage from Lloyds of London (which is not a regulated carrier in Florida).

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Having homeowners insurance is a way to be sure that accidents do not turn into a total loss of real estate or equity. If a mishap does take place on your property, you can feel confident, knowing that your fiscal liability is taken care of. This responsibility is not merely for the expense of making the home new again, it will also take care of many other issues homeowners may face.

If the home has not yet been paid for, then the homeowner will have no choice but to keep it insured, as the company who holds the line of credit on the property will make insurance a condition. Full Post…

Homeowners carrying State Farm insurance will find out in the next few weeks whether they are a part of 125,000 policies that the insurer plans to purge. The major homeowners insurance company originally set out to eliminate over 800,000 policies, but settled on the lower number in exchange for a higher interest rate.

Insurer to Keep 700,000 Policies

In May 2009, we reported that State Farm was to hold a meeting with Florida insurance regulators with the intention of ridding itself of hundreds of thousands of property and homeowners insurance policies.

In the negotiations, the insurer was encouraged keep the majority of its policies.

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If you’ve been a homeowner for a while you’re probably already familiar with the ins and outs of buying homeowners insurance; however, if you’re new to the insurance game the legalese (and insurance-ese!) that go hand in hand with any homeowners insurance policy can send you screaming for the hills! Don’t throw in the towel just yet. Here’s a look at the most frequently asked questions about buying homeowners insurance to get you started on the path to finding the protection you need at a price you can afford without having to put yourself in your insurance agent’s debatably trustworthy hands.

#1: Why Do I Need Homeowners Insurance?

The number one question asked by anyone buying homeowners insurance for the first time is why they need homeowners insurance at all. A quick gla

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Learn how to properly maintain your home for homeowners insurance in this free video series that will explain all the different caveats of homeowners insurances policies. Expert: Romie Brown Bio: Romie Brown has been an insurance agent for 10 years. He was named one of the top 100 new agents in his company in 1999, 2000 and 2001. He is a 1992 Graduate of the University of Toledo.

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