Choice Home Warranty Official Blog

Florida State Insurance Commission ordered National Home Protection Inc. to stop marketing and selling home warranties. State officials say the firm is not licensed to sell the products and has a reputation for denying claims.

The Office of Insurance Regulation said it began investigating National Home Protection Inc.’s marketing and claims handling practices earlier this year.

“This company has been selling these products without a license all across the country,” said Insurance Commissioner Kevin McCarty. “Florida law clearly authorizes me to take action to stop the practices of unlicensed entities to protect consumers in this state.”

The investigation also revealed that many of the claims made for household repairs or service were denied.

In April 2009, we reported that the New York Attorney General filed law suite against National Home Protection. NY AG office announced that their office received more than 300 complaints against the home warranty protection company from consumers in at least thirty-two states.

The Florida order also requires National Home to honor all policies that are in effect for the duration stated in each contract. The company has 21 days to file a challenge to Florida’s action but it is highly unlikely that the company will contest the order.

Source: http://www.homewarrantyreviews.com/national-home-protection-forced-out-florida

Freddie Mac started offering free home warranty coverage for 2 years when you buy bank owned or foreclosed real estate property. The “Smart Buy” program was started in late August and is expected end at the end of October.

The promotional program applies to real estate owned homes sold through the agency’s HomeSteps unit, which deals in foreclosed properties that have been turned over to the lender. Called SmartBuy, the program seeks to address one of the major concerns homebuyers have about buying foreclosed property, namely, the potential cost of repairs on a home that may have been poorly maintained or allowed to deteriorate.

Freddie Mac will also pay closing costs of up to 3.5 percent of the purchase price. For example, on a $200,000 home, the program would pay up to $7,000 in closing costs, however it does not cover down payment.

Freddie Mac plays a critical role in the mortgage industry. Serving as one of the nations largest agencies that securitizes conventional home loans, they have been in a precarious financial position over the last two years as home foreclosures have swept over the housing markets. Freddie Mac, along with Fannie Mae, another large national agency covering the mortgage markets, have both received billions of dollars of capital from the U.S. government in the last twenty four months. The companies financial problems escalated as they were leveraging the value of their loan portfolios in multiples over ten percent

Second and vacation homes, investment properties or property purchased solely for rental purposes are not eligible. There is a minimum purchase price of $25,000. More information on the program, including localized listings of eligible HomeSteps properties, are available through the HomeSteps web site. Local real estate agents can also provide information on which properties are offered through the program.

Source: http://www.homewarrantyreviews.com/freddie-mac-is-offering-free-home-warranty

ENERGY STAR is a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping us all save money and protect the environment through energy efficient products and practices.  Did you know that the average home spends about $2,200 on energy bills every year? Change to appliances that have earned the ENERGY STAR, and you can save $75 a year in energy costs, while saving the environment.

Choice Home Warranty is proud to announce the CHW Green program.  This program covers replacement of covered major systems and appliances with ENERGY STAR qualified products.  ENERGY STAR qualified products can include a variety of energy-efficient features that contribute to improved home quality and homeowner comfort, in addition to lower energy demand and reduced air pollution.

Increasing energy demand, global climate change, and constrained energy supplies are likely to impact how energy affects your home in the future. Is your household prepared for the energy challenges that lie ahead? Choice Home Warranty will help alleviate some of those concerns. 

To read more about Choice Home Warranty and the CHW Green program, please visit http://www.choicehomewarranty.com/chw_green.php.