CitiMortgage Insurance Charges on Redemptions Complaint

November 6, 2020

In Kansas and in certain other states, homeowners who lose their properties in a foreclosure proceeding may redeem, or buy back, the property within a certain period after the sale. During the time the bank or other lender owns the property, it is likely to take out hazard insurance on it. The hazard insurance may only be in force for a matter of months before the redemption. However, the complaint for this class action alleges that CitiMortgage, Inc. charges for a full year’s worth of hazard insurance, even though it may itself receive reimbursement for the unused portion.

Case Event File: CitiMortgage Insurance Charges on Redemptions Complaint

Related to: CitiMortgage Insurance Charges on Redemptions Class Action