Homeowners Insurance

If your mortgage servicer fails to pay an insurance premium, you should get a warning from your insurer before the policy is canceled. Some companies send just one notice to the homeowner and mortgage servicer.

CALLING FANNIE OR FREDDIE

If you have an intractable problem with your mortgage servicer, it's time to contact the owner of your loan. In any correspondence, be sure to include the mortgage company's name, your loan number, name, address, and home and work phone numbers.

If Fannie Mae bought the loan, call 800-732-6643 to discuss the problem. Depending on the complexity of your situation, they may step in to facilitate.

For Freddie Mac loans, call or write to the Regional Director of Loan Servicing at the regional office closest to your mortgage company (ask your original lender for the address). For more information, visit the Freddie Mac Web site at www.freddiemac.com. Regional offices are in:

Should you get such a notice, don't ignore it. Contact both your servicer and the insurer to see that coverage is maintained. In theory, if a mortgage servicer is responsible for paying an insurance premium and fails to do so, resulting in a loss of coverage, the servicer would be liable for losses suffered by the homeowner. But such a situation would compound an already upsetting and stressful event and could force you to sue in order to recoup.

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