Sunday, March 20, 2011

Mortgage and Loans - Mortgage Refinance, Home Loans

Mortgage and Loans - Mortgage Refinance, Home Loans

Saving Money on Homeowners Insurance

Posted: 20 Mar 2011 12:01 AM PDT

Insurance may be necessary, but it doesn’t have to be expensive. Our money reporter Stacy Johnson has been giving us ways to save on insurance all month. Today he explores homeowners insurance.

Quicken Loans “Highest in Customer Satisfaction for Primary Mortgage Origination”

Posted: 19 Mar 2011 09:37 PM PDT

JD Power and Associates ranks Quicken Loans “Highest in Customer Satisfaction for Primary Mortgage Origination” among major home mortgage lenders in the United States. Quicken Loans is the nation’s largest online lender and for good reason. We’ve helped more than 1000000 clients finance a mortgage since 1985 and we can help you too. We love being America’s Home Loan Experts. Learn more about the JD Power and Associates award information, visit www.jdpower.com Learn more about Quicken Loans at www.quickenloans.com

Have you got a Mis-sold PPI Complaint?

Posted: 19 Mar 2011 09:22 PM PDT

There are many reasons exactly why mis-sold ppi eventually a lot of financial clients.  The problem have been identified by both the Financial Services Authority as well as the Office of Fair Trading as a growing problem that really needs close attention.

 Many high street banks are actually fined millions of pounds because of the mis-sold ppi issues filed against them.

 During the application of the loan with the bank or lending company, at the end of the process, the advisor tells their clients the quote for their fully protected loan, credit card, and mortgage.  As the sales person were heavily targeted to market the policy, they generally completed the needs and demands questions on behalf of their clients.  Payment protection insurance plan should be optional and not compulsory.  However, in many situations that was reported, the sales person implies that if the insurance policy is not taken, it could lead to the loan being declined by the bank or lending company.  

This is only one of the mis-selling practices that numerous sales representatives are practicing when it comes to selling this type of insurance policies.  Many of the mis-sold ppi complaints were about the sales representative giving misleading advice to their customers.  The banks?and lending companies?sales representatives also unfairly pressurized clients into buying payment protection insurance by making them feel scared about their job security or their future health prospects.
Banks and lending companies sales representatives could often discuss and convince customers that they needed payment protection insurance.

 In several cases, the premiums were added to the loan, and this might be as high as 50% of the original loan amount.  Interest was then charged on it and the total cost of the loan was greatly increased.  A lot of people who filed a mis-sold ppi complaint against their bank and lender declared that this was not explained or discussed with them.  Even the alternative options were not also explained to the customers, including other important details of the policy.

 This would have included another monthly premium at a fraction of the cost.

You may even have been mis-sold ppi if you’ve been told the insurance was compulsory or that taking it would give you a better chance of getting the loan, if you didn’t know that you may buy the cover from another supplier, if you were self employed, unemployed, a student, retired, on benefits when you took out the policy, in the event the policy exclusions weren’t entirely explained to you and if the cost of the policy was not discussed to you.  

You might be able to refund the money that you paid for a

 mis-sold ppi policy if you will be able to prove that any of these things happen to you. 

How to get a good medical insurance policy in Florida which covers max medical expenses?

Posted: 19 Mar 2011 04:54 PM PDT

I am a student and would like to take an insurance policy which will take care of my hospital/surgery bills if at all needed.

I had a health/mediclaim insurance from my employer when I was working. It was good and took care of my hospitalization expenses a couple of times.

Now that I am not earning any salary, I may not be able to afford such bills if at all I fall sick or undergo a surgery. So I want to be covered by a good mediclaim health insurance policy. Please suggest one.

Mis Sold PPI, Bankers Bonuses And The Consumer Revolt

Posted: 19 Mar 2011 09:02 AM PDT

PPI has become the center of a national furor as it has emerged how banks took their clients for granted.

Even as PPI seemed great on paper, at the end of the day it was riddled with defects chiefly on account of enthusiastic financial types attempting to push PPI on their clients. What happened was that misrepresented PPI was found everywhere and once policyholders knew how they had been gypped, they were angry.

It was over-exuberance on the part of financial types to shore up their gains that resulted in mis-sold PPI and a plenty of angry consumers. Any time a person approached a financial institution for a loan, he or she was informed that it was in no way possible unless they accepted PPI. Indeed people were told PPI was essential in order to avail the funds.

There were many shortcomings that were exploited by the officials whenever a person sought to place a claim. All kinds of new rules and regulations on eligibility were included at the very end surprising the customer. Individuals who were on limited finances such as those no longer working or those who had been rendered jobless during a loan period were hoodwinked.

Now, the mis sold PPI issue has become a a UK-wide issue with some of the biggest institutions in banking also involved.  Although they disavow everything was done intentionally, customers that were victims of the hoax will tell a different story.

Many believe that veteran managers almost compelled their younger colleagues to give PPI to customers coming in for a chance to borrow money. More often than not the younger bankers were under pressure as their seniors threatened them with pay cuts or a push down the career ladder. The hassled young bankers then forced PPI on to the person who signed on the dotted line after being influenced by the factors making it worthwhile, the major aspect being it was compulsory when it came the time for a loan.

Even as more examples are shown up banks and financial institutions now find they are on the back foot and now will have to shell out plenty of cash to the clients who are putting in for PPI claims with the aid of claims agencies and lawyers.

They stand to make  a big packet by accepting cases related to  claims and the accepted rate of 20 percent of the funds recouped as well as VAT. The missold PPI duped customers nevertheless will have to wait for three months from applying for a claim to expect to get their money back because of a lot of bureaucracy that are a part of deals like this.

However, they should consider themselves lucky to be getting some money back at all considering the way lenders had treated them when it came to PPI where they were hoodwinked so cruelly. Many will not be totally busted but will just have to wait for the three months to pass before they can really look at their financial status.

Posted by Blogku at 7:36 AM

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