Hamilton v. Ocwen Loan Servicing, LLC Plaintiffs contend that defendant Litton induced them to reduce the amount of hazard insurance coverage to an amount insufficient to pay off their mortgage in the event of a total loss. The actual damages plaintiffs seek would be the difference between the amount still owing on the mortgage at the time of the fire ($85,000) and the amount of the insurance coverage ($46,575), which is $38,525. The fact that plaintiffs also seek punitive damages does not show that the $75,000 jurisdictional limit for diversity cases has been met.
Tagged with: Punitive Damages
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