I had a nice xmas gift from my mortgage company-HOME EQ - it seems when I changed my homeowners insurance from Lib Mutual to Allstate there was a mixup - Allstate do not write homeowners policies in Florida-they use Royal Palm, so I sent off my check and relaxed...
Well about 6 weeks later my check got returned by Royal palm - the original check - nothing to do with insuficient funds. And it seems like some mixup between allstate and Royal palm-anyway I got insurance from Tower hill after that (and it was cheaper)
NOW, heres the fun part
When my Mortgage (HOME EQ) company discovered that I did not have insurance for 5 weeks-they took it upon themsleves to open an escrow account for me and charge me... 1000 dollars for 5 weeks coverage! -working out at 12000 a year!!! Im sure in all those reams of paperwork I signed at closing they are allowed to do that-but the amount???
I would call that Usury or Fraud - evidentally Home EQ uses Empire-the most expensive insurer in the country!
So my friends I probably dont have a leg to stand on, so BEWARE any mishaps in your homeowner insurance-your mortgage company could do to you what they did to me...
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