Another Ploy to Rip Off Homeowners

[Liz]

the Federal Housing Finance Agency is allowing Chase, Wells and other mortgage servicing giants to insurance-shop for millions of homeowners who get saddled with over-priced coverage while the big banks walk off with kickbacks from the insurance companies, according to this article.

Big Banks Rip Off Homeowners With Force-Placed Insurance - Economic Intelligence (usnews.com)

 

[VolAgent]

Another solution in search of a problem.

It is no secret you have to have insurance if you have a mortgage. Carry your own and you completely avoid the problem. But if you want to abdicate your responsibility, why should you expect someone else to be frugal when spending your money?

 

[AZDave]

So, Mr. Prospect, who takes care of you auto insurance?
"Oh, I go thru Geiko for that."
And, who handles your homeowners insurance?
"My mortgage company".
Have you ever considered using an insurance agent?
"What's an insurance agent?"

!

 

[TrustedAdvisor]

I agree with Volagent, take matters into your own hands.