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Mortgage Insurance is such a Scam!

Posted by Kimberley Kelly on November 10, 2010 at 4:40am in Short Sale Discussions

Read this this morning and I think it's a worthwhile read for all us Short Sale Realtors..I get hit with MI at the very end sometimes..even when I investigate and try to find out if MI is even existant.  I fight it as much as I can, but B of A being the worst, it has shut down more than one of my Files because they attach the number at the VERY END of the acceptance.  Normally, it pushes the purchase number out of the ball park.  http://tinyurl.com/2ea8xkn

 

What do you think?

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Tags: Insurance, Mortgage, la, quinta, sales, short
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Replies

  • Kimberley Kelly November 12, 2010 at 4:36am
    Yes..they did, and it is forced property Insurance. It is happening alot, and it is a scam in my opinion!



    Jim Schneider said:
    Kimberly,

    you mention mortgage insurance is a scam, but your e-mail link goes to an artice about forced placed property insurance which is not the same thing.

    Did you mean forced placed property insurance, and do I take it BofA asked for extra money because they force placed insurance on one of your listed properties?

    Jim Schneider
  • Jim Schneider November 11, 2010 at 7:34am
    Kimberly,

    you mention mortgage insurance is a scam, but your e-mail link goes to an artice about forced placed property insurance which is not the same thing.

    Did you mean forced placed property insurance, and do I take it BofA asked for extra money because they force placed insurance on one of your listed properties?

    Jim Schneider
This reply was deleted.
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