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Katareen
5,000 Posts!
Member since 4/10 7180 total posts
Name:
Katherine
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Mortgage Insurance
Not PMI--
What is the insurance called that will basically forgive your mortgage if your or your spouse dies?
Also, is this kind of policy expensive?
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Posted 8/5/10 10:24 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: Mortgage Insurance
It's mortgage insurance, basically declining term, but NYS doesn't sell it. Buy term to cover it to cover it.
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| Posted 8/5/10 11:29 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Mortgage Insurance
Posted by shamrock124
It's mortgage insurance, basically declining term, but NYS doesn't sell it. Buy term to cover it to cover it.
Agreed. I'd rather have the flexibility of term life.
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| Posted 8/5/10 11:58 AM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: Mortgage Insurance
Posted by Katareen
Not PMI--
What is the insurance called that will basically forgive your mortgage if your or your spouse dies?
Also, is this kind of policy expensive?
I dotn know that this exists in NYS. When we first bought our home my mother bugged me constantly about this saying she and my father had it. Maybe they sold it years ago but when I called around for HO insurance none of the companies seemed to know about it.
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| Posted 8/6/10 8:28 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Mortgage Insurance
The offered us that through BOA
but it was something absurd, like $144 per month, our attorney told us it would be much more worthwhile to buy life insurance...
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| Posted 8/6/10 8:41 PM |
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twinkletoes807
Mommy's Girls! ♥
Member since 11/07 10116 total posts
Name:
Gabi
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Re: Mortgage Insurance
DH and I have this thru the KOC, where he is a member.
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| Posted 8/6/10 9:29 PM |
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