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What else can I help you with?
Do you have to get insurance if you pay cash for a house?
No. If there are no mortgage requirements that you carry insurance then it is completely up to the home owner.
Who receives the mortgage insurance payments?
The insurance company. Mortgage insurance premiums may be tax deductible. To qualify, the insurance policy must be for home acquisition debt on a first or second home. Home acquisition debt are loans whose proceeds are used to buy, build, or substantially improve your residence. Thus mortgage insurance policies on cash-out refinances and home equity loans won't qualify for the deduction.
Will homeowner's mortgage insurance pay for failing drainage pipes under foundation?
Mortgage InsuranceNo, Mortgage Insurance is NOT Homeowners Insurance. Mortgage Insurance does not cover your home at all.Mortgage Insurance covers your finance note, not your home.
How can one get cash out of a home mortgage?
One can get a cash out on the mortgage on their home when one plans to refinance. The refinanced mortgage is higher than the original mortgage, so one is able to keep the leftover cash.
What is the difference between home insurance and mortgage insurance?
Home insurance is a policy that protects your home and belongings from damage or theft, while mortgage insurance is a policy that protects the lender in case you default on your mortgage payments.
Does house insurance cover a mortgage if the holder dies?
NO Home Owners insue covers the Home. You might look to Mortgage Insurance for paying a mortgage.
Should I buy mortgage insurance for a home?
You will have to buy mortgage insurance for a home. I don't believe it is an option as it is required while you have an outstanding mortgage. Look into the best available.
What are the benefits of purchasing home mortgage insurance?
A home mortgage insurance allows a person to buy a home without meeting the 20% down payment. it also allows for more flexibility by affordable premiums. Home mortgage insurance can be transferred from one home to another.
How can I stop paying mortgage insurance?
You can stop paying mortgage insurance by reaching 20 equity in your home, either through paying down your mortgage or an increase in your home's value. Once you reach this threshold, you can request to have the mortgage insurance removed.
Have you received your home insurance claim check from the mortgage company yet?
No, I have not received the home insurance claim check from the mortgage company yet.
What if an investor bought my house and never sent the payoff to the mortgage company and the investor was caught and is currently in jail could the loss be covered by my home title insurance?
If there was a Title company involved the Title Company would have collected and made the payoff, if they did not the Insurance Company would be on the hook to pay. If you sold the home to an Investor, without a Settlement Agent ( Title Co.) you are out of luck and most likely would have to make a settlement with the Bank for the mortgage.
How can I get rid of mortgage insurance on my home loan?
To get rid of mortgage insurance on your home loan, you can either reach 20 equity in your home through paying down your mortgage or by requesting a reappraisal if you believe your home's value has increased significantly. Once you reach 20 equity, you can contact your lender to remove the mortgage insurance requirement.
