Unnatural Disaster How mortgage servicers are strong-arming the victims of the Moore, Oklahoma tornado (among others)

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Unnatural Disaster: How mortgage servicers are strong-arming the victims of the Moore, Oklahoma tornado (among others)

Unnatural Disaster: How mortgage servicers are strong-arming the victims of the Moore, Oklahoma tornado (among others)

How they’re still operating instead of being shut down is beyond me.

Salon-

On May 20, a massive EF5 tornado whipped through heavily populated Moore, Oklahoma, killing 24 and injuring nearly 400. That tragedy has now shifted into the drudgery of recovery. According to the state’s Insurance Department, claims from the tornado in Moore and a subsequent twister in the city of El Reno have topped 60,000. The damage is expected to reach $2 billion.

But residents of Moore may be shocked when they receive their insurance checks in the coming weeks. Like survivors of previous natural disasters, they will encounter a major obstacle to rebuilding their homes and putting the catastrophe behind them: their mortgage servicer. Turns out the same companies that ripped off homeowners during the foreclosure crisis are, after disasters like the Moore tornado, withholding repair money, often to force homeowners to use the proceeds to pay their mortgage.

[SALON]

© 2010-18 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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