Gilman Law LLP Urges Victims of Predatory Force-placed Insurance Practices to Come Forward Now, Especially Those Who Lost Their Homes or Had Credit Ruined Due to Questionable Conduct By Banks, Insurance Companies Business Wire BOSTON -- September 25, 2013 Gilman Law LLP, one of the nation's leading consumer protection law firms, for over 30 years is urging consumers across the country to come forward now if they have been the victim of predatory force-placed insurance practices. Tens of thousands of consumers may have their lost their homes and/or hand their credit ruined due to the questionable manner in which the force-placed insurance market was allowed to operate. But regulators are now paying attention, and homeowners victimized by this conduct could finally have an opportunity to obtain restitution. However, it is vital that they act now and contact Gilman Law LLP today to ensure that their force-placed insurance lawsuit is not time-barred due to their state’s statute of limitations. Gilman Law LLP is investigating force-placed insurance lawsuits against a number of lenders, including: *Bank of America *HSBC *Green Tree *Nationstar *Chase *Citizens Bank *OCWEN *US Bank *Ally Financial, Inc., formerly GMAC *Insurers: Assurant, American Security, QBE, and Balboa If any of these lenders held a mortgage on your home and force-placed wind, flood or hazard insurance on your property, it is of the utmost importance that you contact Gilman Law LLP today, at 1-888-252-0048 to preserve your right to compensation. While most mortgage contracts generally allow a lender to force-place wind, flood, or hazard insurance on a property if the property owner has allowed their policy to lapse, our investigations and a number of regulatory investigations have raised questions about predatory practices that lenders and mortgage services may have engaged in when force-placing insurance. For example, an investigation conducted last year by New York’s Department of Financial Services found that profit sharing between banks and insurance companies pushed up the price of force-placed insurance by creating incentives for the banks to buy policies with high premiums. Earlier this month, New York regulators proposed new regulations aimed at ending the kickbacks insurers pay to banks that purchase force-placed insurance policies. http://www.dfs.ny.gov/about/press2013/pr1309191.htm During the housing crisis, the practice of force-placing insurance became more widespread, as the financial distress suffered by many homeowners caused a lapse in insurance coverage. As a result, many property owners were driven to foreclosure and/or had their credit ruined because the undue financial burden they incurred due to these needlessly expensive force-placed insurance policies. Fortunately, the recent action taken by regulators in New York and elsewhere indicates the tide may finally be turning in favor of consumers. According to Gilman Law LLP, those property owners victimized by the force-placed insurance market could be entitled to significant financial compensation, possibly equaling as much as 20% of the premiums imposed for force-placed insurance policies. The opportunity for property owners to obtain this compensation will likely be short-lived. As such, Gilman Law LLP is urgently asking anyone who believes they may have been victimized by the force-placed insurance market to contact the firm immediately. Free, no obligation case evaluations are available by calling Toll Free at 1-888-252-0048, or by visiting Gilmanlawllp.com. About Gilman Law LLP Gilman Law LLP, a leading national law firm with offices in Florida and Massachusetts, has been recognized for delivering successful results to their clients across a broad range of claims stemming from consumer product injury, mass tort, and class action lawsuits. For over 30 years, the Gilman Law LLP team of highly experienced lawyers has earned renown for tireless work on behalf of their clients on many of today's most challenging and important legal issues. Contact: Gilman Law LLP Ken Gilman, 1-888-252-0048
Gilman Law LLP Urges Victims of Predatory Force-placed Insurance Practices to Come Forward Now, Especially Those Who Lost Their
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