Free Insurance Guide

JPMorgan Chase and other major banks like Bank of America are being investigated for allegedly steering borrowers into overpriced home insurance policies illegally. The New York State financial services agency in charge of the investigation is focusing on a trend that was once used to protect banks from financial losses but now may be used simply to earn some extra cash.

Force-Placed Homeowners Insurance Rising

When a major lender provides a mortgage loan to a borrower, that borrower is required to purchase a homeowners insurance policy to ensure that the property is financially protected from damage or losses until it is paid off.

Read more…

JPMorgan Chase and other major banks like Bank of America are being investigated for allegedly steering borrowers into overpriced home insurance policies illegally. The New York State financial services agency in charge of the investigation is focusing on a trend that was once used to protect banks from financial losses but now may be used simply to earn some extra cash.

Force-Placed Homeowners Insurance Rising

When a major lender provides a mortgage loan to a borrower, that borrower is required to purchase a homeowners insurance policy to ensure that the property is financially protected from damage or losses until it is paid off.

Read more…