Green Tree Servicing LLC Force-Placed Insurance Class Action
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Many homeowners do not realize that if there is a lapse in their insurance coverage on their homes, lenders can buy an insurance policy for them and add the premiums to their monthly mortgage payments. Typically, such "force-placed" insurance policies cost much more than the "voluntary" policies homeowners can purchase on their own. Moreover, the force-placed insurance policies typically protect the mortgage holder more than the homeowner. If a homeowner fails to pay the premiums for force-placed insurance or to show proof of their own insurance, the homeowner possibly could face foreclosure. In the last few years, the force-placed insurance practice has become quite common, resulting in numerous complaints from concerned homowners about the higher rates and the difficulty in removing these charges.
Homeowners should be aware that force placed insurance should only occur when an insurance policy has lapsed. Once the mortgage lender receives notice that the homeowner has reinstated his or her insurance, the forced placed coverage should be cancelled.
If you think Green Tree Services is charging you excessive premiums for a force-placed insurance policy, you might be able to recover some of the excess premiums.
If you would like to speak to an attorney regarding your experience with GreenTree Servicing LLC and any claims that you may have against it, please feel free to contact me any of the following attorneys. There is no charge or fee to discuss your situation them.
Attorneys for the Plaintiff
Direct: (562) 216-7387
RIDOUT & LYON, LLP
555 E. Ocean Boulevard, Suite 500
Long Beach, CA 90802
Telephone: (562) 216-7380
Fax: (562) 216-7385
Ridout & Lyon, LLP • 555 E. Ocean Blvd., Suite 500 • Long Beach, CA 90802
Phone: (562) 216-7380 • Fax: (562) 216-7385 www.RidoutLyonLaw.com