Forced into Purchasing Excessive Flood Coverage?
Washington Mutual Forced Placed Flood Coverage
Washington Mutual Mortgage Holders: If you were coerced or forced into buying an excessive flood insurance policy, you may have legal recourse to seek financial compensation. Our website is investigating claims that certain mortgage companies have been forcing loan holders to maintain or buy flood insurance policies that are overly expensive, unnecessary or otherwise excessive. While Washington Mutual has not been named among the mortgage companies participating in these questionable practices, many property owners who have borrowed from other banks have complained that they were forced into paying the high costs of a second, unnecessary or excessive flood insurance policy.
If Washington Mutual or any other bank forced you into purchasing or maintaining an excessive, overly expensive or second flood insurance policy, complete our no cost case review form today for a free evaluation of your claim. You may be able to seek compensation for the high premiums paid out for this flood coverage.
Lawsuits for Excessive, Forced Placed Flood Insurance Coverage
Any borrower may be able to participate in a forced placed flood insurance lawsuit if they had to maintain or purchase:
- A second flood insurance policy even though they were already covered by a condominium association or otherwise
- More flood coverage than what was required under their mortgage agreements
- A flood insurance policy which exceeded federal requirements
- A second flood insurance policy after an acceptable policy was refused
Allegedly, some of the banks which forced placed valueless flood insurance on mortgage holders received commissions for these purchases, the cost of which was expensed to the borrower - either by being added to their mortgage balance or deducted from their home equity account.
Complaints: Unnecessary Flood Insurance
If your bank unnecessarily forced placed flood insurance policy on your property, you may be able to seek financial compensation. To learn more about the legal rights which may be available, fill out our free case evaluation form today. Our flood insurance lawsuit attorneys are providing this online consultation at no cost or obligation and remain committed to protecting the rights of consumers who had their legal rights violated.
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