Thousands of Florida mortgages could be at risk because of insurance abuse

If you have a mortgage on your Florida property your lender will have certainly required you to take out home owner’s insurance, including hurricane coverage when your loan was funded. This does actually help many Florida homeowners who may otherwise be tempted to cut costs and risk going without hazard insurance.

Why Pet-Friendly Homes Are in High Demand – Maggie Rose, Realtor, Presents South West Florida Luxury Homes

Thousands of Florida mortgages could be at risk because of insurance abuse claims abuse will harm several insurers’ ratings in Florida. sen. jeff brandes, R-St. Petersburg, is fighting to reform.

In a decision that could ultimately impact the entire mortgage servicing industry, the Florida Supreme Court ruled on Thursday that mortgage servicers may file new foreclosure actions against borrowers who won foreclosure cases more than five years ago, should the borrowers default again within five years of the first case’s dismissal.

Getting a home loan is sometimes complicated. That is why mortgages are so attractive to would-be scammers. Learn how to spot and avoid different types of mortgage scams. mortgage-related complaints If you have a mortgage-related complaint or think you have been the subject of one of the mortgage scams below, you have several ways of reporting your experience:

Does Shopping Around For a Mortgage Hurt Your Credit You can shop around for a mortgage and it will not hurt your credit Within a 45-day window, multiple credit checks from mortgage lenders are recorded on your credit report as a single inquiry. This is because other creditors realize that you are only going to buy one home.Florida Foreclosure Law

Seniors were sold a risk-free retirement with reverse mortgages.. Philadelphia and Jacksonville, Florida, are among the hardest hit, according to.. fees that can top $15,000 with fees and mortgage insurance, and by. For many homeowners, reverse mortgages are relatively safe, because the borrower is.

Improperly Force-Placing Insurance. Most mortgages and deeds of trust require homeowners to maintain hazard insurance coverage on their property. The property owner will generally purchase a homeowners’ policy to meet this requirement. But if the homeowner lets the coverage lapse, the servicer can obtain insurance coverage at the homeowner’s expense.

Understanding Lender-Required Flood Insurance. "Just a few inches of water from a flood can cause tens of thousands of dollars. (such as an FHA mortgage) and buy a home in a high-risk flood.

Insurance Fraud and Abuse: A Very Serious problem stephen barrett, M.D. Fraud and abuse are widespread and very costly to America’s health-care system. Fraud involves intentional deception or misrepresentation intended to result in an unauthorized benefit. An example would be billing for services that are not rendered.