So, what is forced-placed insurance, and why would it be unhappy -- other than being "forced," that is? The concept behind forced-placed insurance as it relates to mortgages is as follows: should a homeowner fail to meet his insurance premiums, then the loan servicer can step in to buy an insurance policy that is comparable in coverage. The mortgaged property thus remains fully insured, protecting the interests of both the homeowner and the lender. Hey, what's not to like?
Resources for Today's Insurance Professional
Showing posts with label News. Show all posts
Showing posts with label News. Show all posts
Thursday, November 11, 2010
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