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Real Estate & Property Law

: The Home Equity Theft Reporter

Forced Placed Insurance Causes Unit Owner's Mortgage Payment To Skyrocket After HOA Drops Windstorm Coverage; Suit Filed Seeking Reimbursement

By r morris

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In Oakland Park, Florida, The Miami Herald reports:Carla Gemmati, 45, a resident at the Lake Pointe Condominium in Oakland Park, saw her mortgage almost double from $975 to $1,700 in December. The additional cost was to cover a windstorm insurance that her condominium's association had just eliminated,(1) forcing her mortgage lender, Bank of America, to purchase a policy of more than $4,500 on

Full post as published by The Home Equity Theft Reporter on March 17, 2010 (boomark / email).

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