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What else can I help you with?
How do you know if you had mortgage insurance?
This depends on what you mean by mortgage insurance. If you are talking about products like PMI (Premium Mortgage Insurance) look on your escrow billing and it will be listed. If you are talking about a life insurance policy that would be either through credit life with your mortgage company or separately through an insurance company.
Why would my house payment increase?
Your house payment may increase due to factors such as an increase in property taxes, insurance premiums, or an adjustment in your mortgage interest rate.
Does homeowners insurance pay your mortgage if you become disabled?
Homeowners insurance does not cover your mortgage if you become disabled. You would need to obtain mortgage protection insurance for that.
Do you have to carry mortgage insurance?
No you don't have to, but you would be a fool not to carry enough insurance to cover your mortgage! However, most mortgage lenders do require it, and if so, they will not make the loan if you refuse to carry the mortgage insurance. In that case, the choice is yours.
Mortgage is in your name spouse dies will mortgage life insurance pay off house?
If the mortgage is in your name it would not be affected by the death of your spouse. Mortgage life insurance is coverage that is taken out so that your house would be paid for in the event of your death.
How do you know if you had mortgage insurance?
This depends on what you mean by mortgage insurance. If you are talking about products like PMI (Premium Mortgage Insurance) look on your escrow billing and it will be listed. If you are talking about a life insurance policy that would be either through credit life with your mortgage company or separately through an insurance company.
Would the insurance premium of the car owner increase if he was not the actual driver at the time of an accident?
If a claim is made against his insurance...yes.
Can insurance company increase your premiums retroactive?
No, Insurance Company cannot increase premiums retroactive. It has to declare before hand from which date the increased rate of premium would be operational.
How much would your insurance premium increase if your insurance company says you are 100 percent at fault in CA?
YOur broker should answer that for you - they would contact the company on your behalf to find out.
Why would my house payment increase?
Your house payment may increase due to factors such as an increase in property taxes, insurance premiums, or an adjustment in your mortgage interest rate.
Does homeowners insurance pay your mortgage if you become disabled?
Homeowners insurance does not cover your mortgage if you become disabled. You would need to obtain mortgage protection insurance for that.
What kind of insurance would cover a mortgage in the event of a spousal death?
Credit life insurance, Mortgage insurance, or decreasing term insurance.
Should reverse mortgages have mortgage insuranc?
In the perfect world no mortgage insurance would be necessary, however nearly all reverse mortgages today are backed by FHA's HECM reverse mortgage program which requires mortgage insurance. I key difference however with reverse mortgages is that there is no personal guarantee or recourse against the borrower or their heirs when doing a HECM reverse mortgage. as a result if there is ever a negative equity position in the home the lender takes the loss and receives protection from FHA accordingly. As a result the mortgage insurance on a reverse mortgage has a very direct benefit to the borrowers. The mortgage insurance is collected both upfront and monthly, however the HECM Saver program lends less money but does not have an upfront insurance premium
Will your insurance premium increase if you scratch another car and claim it?
Any claims made against your insurance company can result in an increase in your premium. If it's just a scratch, it would be better to settle with the person with an out of pocket payment if at all possible. Be sure to get a quote with the person (both parties present at time of quote).
Do you have to carry mortgage insurance?
No you don't have to, but you would be a fool not to carry enough insurance to cover your mortgage! However, most mortgage lenders do require it, and if so, they will not make the loan if you refuse to carry the mortgage insurance. In that case, the choice is yours.
What is a an FHA loan?
An FHA insured loan is a Federal Housing Administration mortgage insurance backed mortgage loan which are provided by FHA-approved lenders. FHA insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford. To obtain mortgage insurance from the Federal Housing Administration, a mortgage insurance premium(MIP) equal to a percentage of the loan amount at closing is required, and is normally financed by the lender and paid to FHA on the borrower's behalf. Depending on the loan-to-value ratio, there may be a monthly premium as well.
Mortgage is in your name spouse dies will mortgage life insurance pay off house?
If the mortgage is in your name it would not be affected by the death of your spouse. Mortgage life insurance is coverage that is taken out so that your house would be paid for in the event of your death.
