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Louisiana Homeowners are Making Mortgage Companies Richer with Interest from Insurance Proceeds

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Case ID: 4650 | Environmental | 02/09/2006
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Are you a Louisiana homeowner whose insurance proceeds are sitting with your mortgage company or bank?

If suffering the devastation to one's home has not been enough for hundreds of thousands of Louisiana residents, then they can now look to their mortgage companies and banks for more evidence of greed. This story will describe what is happening to Louisiana homeowners.

Homeowners have paid billions of dollars in premium payments to insurance companies for many years for flood and property insurance. In light of the 2005 devastation, these homeowners are receiving billions of dollars from their insurance companies to rebuild. When a homeowner has a mortgage, the insurance company will write the proceeds check payable to both the mortgage company and the homeowner. Often, the mortgage company (which can often be a bank) will not release the proceeds until the homeowner submits an invoice to prove that work has been completed for repairs. What happens to this money when it is sitting in the mortgage company's or bank's accounts? They make money - interest....or they lend this money to other people for the time they are holding it.

It just seems patently unfair that homeowners have paid their premiums to insurance companies and now the mortgage companies and banks are making money off of this. Kahn Gauthier Swick, LLC is investigating these claims - you can call toll free 1-866-467-1400 if this is happening to you, or submit a claim online on this webpage.

Register your Mortgage Companies Banks Complaint

If you or someone you know has been affected by this case, you may qualify for a money settlement as the result of your financial/economic or other damages that may be awarded either prior to a lawsuit or after the initiation of a lawsuit either currently in progress or filed just for you, possibly a class action lawsuit. Please simply register your complaint by clicking here for Mortgage Companies Banks, or click the red "submit" button on this page, and a lawyer will review your Mortgage Companies Banks complaint.

By submitting your complaint, you are asking lawyers to contact you. You are under no obligation to accept their services and you are free to choose which lawyer you want to work with. Lawyers are usually paid out of the proceeds of the settlement or verdict rendered - the lawyers work on "contingency" by fronting the costs of your lawsuit based on their belief that they will recover a settlement for you.

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