Can Your Mortgage Company Confiscate Your Homeowner's Insurance Damage Claims Proceeds?

Can YOUR Mortgage Company Confiscate YOUR Homeowner's insurance Damage Claims Proceeds...and then apply the money to your MORTGAGE BALANCE, leaving you facing a Mechanic's Lien for non-payment of the repair bill?

As a result of damage to a homeowner's roof from a storm, the homeowner filed a damage claim with his Homeowner's Insurance company. The adjustor inspected the damage, and the insurance company sent a check to the homeowner. As is customary with most insurance companies, the check was made out
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Got A Non-Renewal Notice On Your Home Insurance?

Instead know how to claim your rights and how to avoid getting your current insurance cancelled. Some states have laws prohibiting insurers from non-renewing existing homeowner customers who pay their premiums on time. But in most states, insurers are free to non-renew. Nevertheless, it is only in certain situations that insurers have a legal right to cancel a deal and you should check the contract to see how this situation is regulated in it.

Avoiding Insurance Cancellation

It is often noticed that insurers rarely cancel a homeowners policy before it expires.
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Tags: homeowner insurance

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