Carefree Azusa Condo Assn.

Hazard Insurance

Posted in: Carefree Azusa

Wells Fargo recently sent me a letter questioning our Association Master Policy (Hazard Insurance). Has anyone else had this happen to them? I've lived here 16 years without this sort of inquiry.  

I'm concerned since there are class action suites regarding the practice of "forced insurance", wherein a Mortgage Lender will force an expensive policy onto a customer for failure to notify them yearly regarding insurance, even if you've always provided the necessary insurance (as we do through our association).  

My mortgage compay has also started asking for confirmation of insurane each Janaury, otherwise they add it on. (Cost me almost $3,000 before I figured out what was hapening  At least they agreed to reverese the charges once I provided the information.)

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