Forums
New posts
Search forums
What's new
New posts
New profile posts
Latest activity
Internet Search
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
General Discussions
The Watercooler
Stressing a bit
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="busywend" data-source="post: 462268" data-attributes="member: 391"><p>We just closed on a house and shortly afterwards received a ton of offers for life insurance on the mortgage. I do not believe it would be done with the bank itself. The PMI, as others have said, is an insurance for the bank that if they do have to foreclose on the house, their additional costs to manage that would be covered for them. It is not for the buyer of the home. </p><p></p><p>It is most likely some sort of life insurance policy that would pay the mortgage in case of death. </p><p></p><p>Your monthly bill from the mortgage bank should state what is included in your payment. </p><p>Principal</p><p>Home Owners Insurance</p><p>Taxes (in escrow)</p><p>PMI </p><p>those are the typical things listed.</p></blockquote><p></p>
[QUOTE="busywend, post: 462268, member: 391"] We just closed on a house and shortly afterwards received a ton of offers for life insurance on the mortgage. I do not believe it would be done with the bank itself. The PMI, as others have said, is an insurance for the bank that if they do have to foreclose on the house, their additional costs to manage that would be covered for them. It is not for the buyer of the home. It is most likely some sort of life insurance policy that would pay the mortgage in case of death. Your monthly bill from the mortgage bank should state what is included in your payment. Principal Home Owners Insurance Taxes (in escrow) PMI those are the typical things listed. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
General Discussions
The Watercooler
Stressing a bit
Top