Discovery Aimed at Insurance Accounts Might Yield Beneficial Results for Homeowners Challenging the Rights to Administer, collect or Enforce

if the payment is directed to the company claiming to be a servicer on behalf of a non-existing creditor, the homeowner’s liability for the scheduled payment is not reduced. Like most foreclosure sales, the proceeds from insurance are used as free money or revenue by all of the participants in the fake process of servicing.

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Update from reader/client:

you may want to advise your readers they can call their insurance carriers and demand they remove any servicer off their policies.  I started challenging servicers regarding insurance fraud years ago.  That’s an issue that makes them very nervous.  I had a claim for fire damage in 2006,  I called BEFORE I made the claim to remove SPS off my policy. The check was issued to me.  Later I get a call from a women from (SPS) she claims, stating I needed to give them the money.   I laughed and said if SPS wants  insurance they should get their own policy, and by trying to claim my policy is insurance fraud.  I never heard another peep.   Farmers has been more than helpful keeping servicers off my policies.. but you need to check periodically because they will reappear.  Nationstar appeared on the policy above when SPS was claimed servicer..SPS couldn’t get on my policy so they just named NS as beneficiary which I promptly removed.   The insurance issue is fun to play with..it’s one topic that makes “them” nervous. (e.s.)

If a natural disaster or other covered event triggers a payment from an insurance company that was paid premiums from the money of a homeowner, you probably want to know who is getting that payment? If the house is a total loss, it is highly probable that the named insured on the policy of insurance includes a payoff to the secured creditor. This is one of the ways that homeowners inadvertently admit that there is a secured creditor who owns a loan account receivable due to that creditor. But if the payment is directed to the company claiming to be a servicer on behalf of a non-existing creditor, the homeowner’s liability for the scheduled payment is not reduced. Like most foreclosure sales, the proceeds from insurance are used as free money or revenue by all of the participants in the fake process of servicing.

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This is just one of the reasons why you want to challenge the authority, rights and obligations of the company claiming to be a servicer. If you utilize their services to make payments for your insurance you are tacitly admitting that they are a servicer. That admission naturally leads to the assumption that they are acting as a servicer for a creditor who maintains a loan account receivable due from the homeowner. This is just one of the many ways that Wall Street creates a long trail of tracks in the sand all leading to the erroneous conclusion that the “loan” exists and a “Creditor” owns it.

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That is why I’m doing a webinar on November 19 in which I describe pre-litigation strategies, which should begin as early as possible.

**** Sign Up for 1 Hour 1 CLE Prelitigation Webinar 11/19/21 4PM Friday****

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So the first question is who is the additional insured on the homeowner’s policy? The answer to that question alone might reveal information that can be used in challenging the administration, collection, and enforcement of scheduled payments

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And the next question is how did the insurance company arrive at the factual conclusion that the named insured had an insurable interest (required by law)?

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In order to have an insurable interest, the insured would need to be someone who suffers a risk of loss — or someone who is the authorized representative of a party who had a risk of loss from a covered event. The insurance companies are paid extra premiums for issuing policies without regard to whether or not the named insured has an insurable interest. But somewhere in their underwriting department, there is a box checked or a note inserted as to the nature of the interest that is being insured. In discovery, the homeowner would seek to know the source of information that was used to check that box or make that note.
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I have occasionally raised a dust cloud with this strategy. If the homeowner finds out that the insured is the named Company claiming to be the servicer, and the homeowner is the owner of the policy, the homeowner can instruct the insurance company to make adjusted payments directly to the homeowner unless and until the insurance company receives information that establishes the insurable interest, and until the insurable interest is matched with the named insured.
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Nobody paid me to write this. I am self-funded, supported only by donations. My mission is to stop foreclosures and other collection efforts against homeowners and consumers without proof of loss. If you want to support this effort please click on this link and donate as much as you feel you can afford.
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Neil F Garfield, MBA, JD, 74, is a Florida licensed trial and appellate attorney since 1977. He has received multiple academic and achievement awards in business, accounting and law. He is a former investment banker, securities broker, securities analyst, and financial analyst.
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  • But challenging the “servicers” and other claimants before they seek enforcement can delay action by them for as much as 12 years or more.
  • Yes you DO need a lawyer.
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One Response

  1. My Title Insurance Company, Bell Title, acted with extreme agression against me when I asked who is my Lender and whom they sent documents after recording repeatedly telling that she is prohibited to talk to me. When I asked who prohibited her to talk to me, she called a police

    Its very dangerous to ask your Title Insurance Company about Lenders, highly hazardous zone

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