Foreclosure Alert provides actionable information to help you minimize the risk from properties currently or previously in foreclosure. You can use it at the point of sale to support underwriting decisions and at the portfolio level to monitor changes in foreclosure status for multiple policies.
By using Foreclosure Alert for policy monitoring, you'll know when you must take steps to verify occupancy and insurability. You can then reassess your risk and take appropriate action if the risk has become uninsurable.
Foreclosure may change the risk of your current policies
A homeowner facing foreclosure may burn down the house to collect on an insurance policy — a policy you provide. Another may remove anything of value — from cabinets and fixtures to wiring and copper pipes. After the owner leaves, a vacant property may be at risk for even more hazards. You'll want Foreclosure Alert to notify you of each public notice as the various foreclosure stages alter your risk exposure.
How Foreclosure Alert works
Using Foreclosure Alert for policy monitoring is easy. Simply supply a list of the addresses for the properties you insure, and we'll do the rest. If you participate in the Coverage Verifier database, it's even easier. We can automatically scan addresses you already supply, and we'll return the results at regular intervals you request.
Find out more
To find out how you can get Foreclosure Alert — or to request more information — contact us. You can also contact your account representative or call 1-800-888-4476.