My question involves real estate located in the State of: California
My mortgage company failed to pay my homeowners insurance premium and the policy was canceled.
The premium was $1,146.00 from 12/15/15-12/15/16
I have an escrow account with enough funds to cover this amount.
After the insurance policy was canceled, the mortgage company bought force-placed insurance with funds from my escrow account.
Their premium was $3031.24 from 12/15/16/-112/15/16
I was unable to renew my original insurance policy and purchased a new one.
My new policy was $1,288.00 from 2/18/16-2/1817.
There is a lapse in coverage of 2 months and three days.
I am being charged $538.34 for that lapse.
It is $377.92 more than my original policy would have cost for that time.
My premium rose $142.00.
I want them to credit me for the total amount of $519.92.
Do I have the right to be reimbursed this amount?
Is it legal for them to buy force-placed insurance when they didn't pay my insurance and I have an escrow account?
My mortgage company failed to pay my homeowners insurance premium and the policy was canceled.
The premium was $1,146.00 from 12/15/15-12/15/16
I have an escrow account with enough funds to cover this amount.
After the insurance policy was canceled, the mortgage company bought force-placed insurance with funds from my escrow account.
Their premium was $3031.24 from 12/15/16/-112/15/16
I was unable to renew my original insurance policy and purchased a new one.
My new policy was $1,288.00 from 2/18/16-2/1817.
There is a lapse in coverage of 2 months and three days.
I am being charged $538.34 for that lapse.
It is $377.92 more than my original policy would have cost for that time.
My premium rose $142.00.
I want them to credit me for the total amount of $519.92.
Do I have the right to be reimbursed this amount?
Is it legal for them to buy force-placed insurance when they didn't pay my insurance and I have an escrow account?
Mortgages: Force-Placed Insurance
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