Non Renewal Homeowners Insurance Discussions

Home loan aid program extended through 2013

Struggling homeowners are set to get more help from the federal government as the Obama administration extends its key foreclosure prevention plan for a year.

The administration also will expand those eligible for the program to include investors and will increase incentives for large banks to modify more troubled mortgages. Originally set to expire in December 2012, the administration's Home Affordable Modification Program will be extended for another year, government officials said Friday. The expansion is part of a renewed push by the Obama administration to right the housing market as it enters its fifth year of malaise.

"We are still coming back from the worst financial recession since the Great Depression, in which the abuses in the housing sector were the most prominent and have left the deepest legacy," said Gene Sperling, director of the National Economic Council. "It requires an all-out, all-of-the-above strategy."

Officials would not say how many new borrowers the administration hoped to reach through the program expansion. The initiative was unveiled in 2009, with the goal of helping as many as 4 million borrowers receive modifications; it has helped only about 900,000 receive new mortgages to date.

The administration said it would expand the program by including a secondary evaluation for borrowers who might have hefty second mortgages or medical bills weighing down their finances. It also will expand the program to include so-called income properties, where the people living in the homes are paying rent.

The plan also will triple the incentives for mortgage servicers participating in the program to do principal write-downs. In addition, it will extend those incentives to loans owned or insured by mortgage giants Fannie Mae and Freddie Mac, which have been reluctant to reduce mortgage principal given that they have received enormous bailouts from American taxpayers.

Wikipedia and Allstate Insurance « shelbyiverson

After analyzing the Wikipedia article and re-checking a large majority of the facts cited within the article against the actual Allstate website itself I have found that a large number, if not almost all of the dates and facts are very accurate and credible. The first three quarters of the article are almost as if you are reading a company history directly written by Allstate, as the accuracy is almost spot on.

After making my way down to the lower portion of the article though it is readily highlighted why the article’s neutrality has been deemed as being disputed in the top bar, by Wikipedia. Granted that I am somewhat bias, but still lookingt at things from a neutral perspective the criticisms thenselves do not seem to hold much credibility. They truly show the weakness of the article to anyome who is familiar with indurance industry standards. It is cited that Allstate schemed to increase profits by not living up to customer policy expectations, but with an insurance commisioner and number of protections in place this would never stand within any insurance company.

Additionally, it is mentioned that Allstate chose to non-renew countless homeowner’s insurance policies in Florida after a natural disaster. Although this is trrue I feel that some of the credibility is lost without explaining why this was done. In the grand scheme of things the company simply could not afford to insure those customers without possibly becoming insolvent or bankrupting customers through premium costs. Like anything else there are two sides to each and every story.

Because both of these incidents are in the article section titled as “opposition” and are both cited there is really not a whole lot that I feel should be done to correct them. If anything I would suggest that with the opposition section they also have neutral explanations for why certain actions are carried out by any particular company.

This Wikipedia article dates back to August 20,2007.

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