Our law firm has recently filed a class action lawsuit against Bank of America and Balboa Insurance Company seeking relief for homeowners across the nation who we allege have been forced to pay excessive and unnecessary insurance premiums due to lender placed (also called force placed) insurance.
This lawsuit has been brought against Bank of America for “force-placing” exorbitantly priced hazard insurance on borrowers with lapsed policies. In some cases these forced-placed policies are also backdated to the date the original insurance policy expired. This practice of force-placing insurance policies and backdating them requires homeowners to insure against the past, and in turn places additional financial burdens on those who may already be struggling.
If you have been affected by Bank of America, Balboa Insurance Company, or another bank or insurance company force-placing insurance on you, we would like to hear from you and may be able to help.
Here is a Link to information regarding this class action lawsuit. http://www.nka.com/Cases/BOAFloodInsCA.aspx?CaseRef=192
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