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Groups Seek to Stop Forced Homeowners Insurance

Groups Seek to Stop Forced Homeowners Insurance

Groups Seek to Stop Forced Homeowners Insurance
News from RealtyBizNews:

by Mike Wheatley – 15 March 2012

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One of the main requirements for securing a mortgage is homeowners insurance. Lenders want to protect their investments, and so they will nearly always insist on this requirement. This insistence is taken to extremes when a homeowner forget to renew their homeowners insurance policy – the lender will do so for them, forcing them to pay for homeowners insurance that is often very expensive.

Forced homeowners insurance policies are often expensive © Feng Yu – Fotolia.com

Recently, a number of federal and state officials have voiced concern that homeowners are forced to bear the brunt of these expensive “forced homeowners insurance” policies, and according to the

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