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It is unlikely that the mortgage company is going to endorse the check until you present an invoice for the work done on the house. In the end, it is wiser to take care of the roof since it needs repair. Honestly, fix the roof and save for the big screen TV. Even if you do the work yourself, you will have to show that the work has been done.
What else can I help you with?
What is the purpose of mortgage protection life insurance?
The purpose of mortgage protection life insurance is to protect the home from being lost in the event the mortgagee passes away. The life insurance will pay off the balance of the existing mortgage to the finance company.
What is meant by 'pre-issuance' in regards to mortgage insurance?
What is the purpose and and benefits of per mortgage insurance
What are the key differences between mortgage protection insurance and life insurance?
Mortgage protection insurance is designed to pay off your mortgage if you die, while life insurance provides a lump sum payment to your beneficiaries when you die. Mortgage protection insurance is specific to your mortgage, while life insurance can be used for any purpose.
What is the purpose of MPI mortgage insurance and how does it impact the overall cost of a mortgage?
The purpose of MPI mortgage insurance is to protect the lender in case the borrower defaults on the loan. It impacts the overall cost of a mortgage by adding an extra cost to the monthly payments, making the mortgage more expensive for the borrower.
What is the difference between mortgage protection and life insurance?
Mortgage protection insurance is designed to pay off your mortgage if you die, while life insurance provides a lump sum payment to your beneficiaries when you die, which can be used for any purpose.
What is the purpose of mortgage protection life insurance?
The purpose of mortgage protection life insurance is to protect the home from being lost in the event the mortgagee passes away. The life insurance will pay off the balance of the existing mortgage to the finance company.
What is meant by 'pre-issuance' in regards to mortgage insurance?
What is the purpose and and benefits of per mortgage insurance
How reliable is PMI mortgage insurance?
"Most people do not understand the purpose of PMI insurance. I know it is to protect the mortgage company from risk, but it almost seems like it's just another fee to add to the payment."
What are the key differences between mortgage protection insurance and life insurance?
Mortgage protection insurance is designed to pay off your mortgage if you die, while life insurance provides a lump sum payment to your beneficiaries when you die. Mortgage protection insurance is specific to your mortgage, while life insurance can be used for any purpose.
What is the purpose of MPI mortgage insurance and how does it impact the overall cost of a mortgage?
The purpose of MPI mortgage insurance is to protect the lender in case the borrower defaults on the loan. It impacts the overall cost of a mortgage by adding an extra cost to the monthly payments, making the mortgage more expensive for the borrower.
What is the difference between mortgage protection and life insurance?
Mortgage protection insurance is designed to pay off your mortgage if you die, while life insurance provides a lump sum payment to your beneficiaries when you die, which can be used for any purpose.
Can you cash insurance check written to you and repair shop?
yes. as it is given as an insurance claim it can be used for the repairing purpose of your damaged shop.
What is the purpose of mortgage insurance escrow and how does it impact the overall cost of a mortgage?
Mortgage insurance escrow is used to ensure that the required insurance premiums are paid on time. It impacts the overall cost of a mortgage by adding an additional monthly payment to cover the insurance costs, which can increase the total amount paid over the life of the loan.
Your mortgage company wants you to insure for the value of the loan but you think insurance should only cover the replacement cost of the structure what is the minimum coverage required?
You have to have it insured for at least the amount of mortgage. That is the mortgage companies "insurance" that it will be paid for if it is totally destroyed.AnswerIf you agreed to insure your house for the amount of the mortgage when you obtained your mortgage then you are bound by that agreement and will have no choice but to comply. Actually, the purpose of homeowner's insurance is not to insure the loan, it's to insure the property. You cannot purchase more than the replacement cost of the house. In the event of a total loss, you will only be paid the cost to replace the house up to the limit shown in the declarations, regardless of what the loan amount is. It is against the law for a mortgage company to require you to secure insurance for the value of the loan. They can be fined.
What is the purpose of receivables insurance?
The purpose of receivables insurance is to get insurance for your company and keep it safe. Insurance is very important in many aspects in life and recivable insurance is great for companies.
What is the purpose of mortgage life insurance?
Mortgage life insurance is a specialized insurance policy that is designed to pay off a mortgage loan should the borrower die before it is paid in full. Typically mortgage insurance and other types of credit insurance such as unemployment or disability insurance do not require the same level of physical examinations or other application measures that a private life insurance policy would need. However, they have no cash value and only insure the balance on the loan.
What is the purpose of island insurance?
'Island Insurance' is not a type of insurance but rather than name of an insurance company located in Hawaii. This company provides home and auto insurance for Hawaii citizens.
