Single mom reveals she’s been forced to sell her dream home due to ‘extreme’ rise in these hidden costs
- Rochelle Trotter, who lives in New Orleans, says goodbye to her home
- Her decision comes after the cost of her home insurance skyrocketed
- Trotter’s mortgage on her house also increased by $1,200 per month
A single mum has revealed the heartbreaking reason she had to sell her ‘dream home’.
Rochelle Trotter is saying goodbye to her beloved New Orleans home after her mortgage and home insurance costs skyrocketed.
“I feel deprived because I worked so hard to get my house,” she says told WDSU News.
Trotter’s mortgage recently increased by $1,200 per month.
“I lived in that house for 10 years, and anyone who knew me would tell you that when you walked up to the front door, it was always open,” she said.
Rochelle Trotter is saying goodbye to her beloved home after her mortgage and home insurance costs skyrocketed
Trotter’s mortgage on her New Orleans home recently increased by $1,200 a month
“It was a safe haven for everyone, we laughed, we talked, we slept on the floor, we danced, we had barbecues,” she remembers.
“I was a single mother and people told me I couldn’t afford this house, but despite what they said, I fought through it and kept my house.
“I kept it until I couldn’t keep it anymore,” she said sadly.
John Ford of the Louisiana Department of Insurance told the broadcaster that hundreds of thousands of other citizens are facing the same hardships.
After Hurricane Ida hit Louisiana in 2021, several major insurance companies left the state or stopped offering new coverage.
“I kept it until I couldn’t keep it anymore,” she said sadly of her struggle to maintain her home
With a huge premium increase, Trotter is one of many faced with a difficult choice
This led to a huge increase in premium costs.
“People need places to go,” Trotter said of the ongoing insurance nightmare inflicted on other families.
“Homelessness is getting worse and it’s really sad,” she added.
Louisiana Insurance Commissioner Tim Temple has announced his plan to give insurers more flexibility to keep them in the state.
One such proposal is to abolish the ‘three-year rule’, which prohibits insurers from dropping their customers if they have been with that provider for three years or more.
Another is to allow insurance to increase rates without prior approval and more than once a year.