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Gilman Law LLP Urges Victims of Predatory Force-placed Insurance Practices to Come Forward Now, Especially Those Who Lost Their



  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
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