Released: January 21, 2012

Coping with high-priced insurance that lenders make you buy

Source: Paul Sullivan, The New York Times

Force-placed insurance. Most homeowners never hear about it until their mortgage lender sends them a letter saying that they must have flood or some other kind of insurance and that if they don’t act quickly, the lender will buy it for them — at a price, it turns out, that is almost always much higher than the market rate.

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