Everything and anything the banks do involve a Ponzi Scheme!
What exactly does the government define as a Ponzi?
Palm Beach Post-
Advocates say lenders often get a cut of ‘excessive’ premiums banks choose to replace lapsed homeowners policies.
An insurance controversy affecting hundreds of thousands of people in Florida and other states never touched Laura Digan’s world — until a $23,287.54 bill rocked it.
The “force placed” homeowners insurance imposed by her mortgage company after a policy lapsed was more than four times as expensive as prior coverage. The single mother of two in Palm Beach County said she was shopping for an alternative to last-resort insurer Citizens when the charge hit.
“I was absolutely appalled, horrified, shocked,” Digan said.