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When you refinance a mortgage can you get a refund on title insurance paid on the existing loan either lender's or owner's policies?
In many states, there is a discounted refinance rates for the premium. Ask the title insurance agent who is doing the new Mortgage Policy if you qualify for a discount.
There are no discounts that I know of, on an Owner's Policy, since when a new Owner's Policy issued, it means the property and chain of title, has transferred hands.
What else can I help you with?
Where can someone obtain a mortgage insurance policy?
One can obtain a mortgage insurance policy from many different companies. Some examples of companies that offer mortgage insurance policies include Prudential and United Life Direct.
What are the benefits of Canadian mortgage life insurance and how does it differ from traditional life insurance policies?
Canadian mortgage life insurance provides coverage specifically for the outstanding balance of a mortgage in the event of the policyholder's death. The benefits include ensuring that the mortgage is paid off, relieving financial burden on loved ones. This type of insurance differs from traditional life insurance as it is tied to the mortgage balance and decreases as the mortgage is paid off, whereas traditional life insurance provides a lump sum payout that can be used for various purposes.
Will my mortgage company endorse my insurance check?
It depends on your mortgage company's policies. Some mortgage companies may endorse your insurance check, while others may require you to use the funds to repair the property. It's best to contact your mortgage company directly to find out their specific requirements.
What term policy are often found in a mortgage insurance?
Typical term policies in mortgage insurance include terms on the homeowners out of pocket deductible before a claim can be paid out by an insurance company. Also it will often list what is covered and what is not. Flood insurance is not typically covered and costs extra.
What mortgage protection policies would the average homeowner need?
Not every person needs mortgage protection insurance. It is typically used to pay your mortgage with your life insurance policy. That money would probably be better spent on your family who can spread the money out for food and utilities.
Where can someone obtain a mortgage insurance policy?
One can obtain a mortgage insurance policy from many different companies. Some examples of companies that offer mortgage insurance policies include Prudential and United Life Direct.
How mch is mortgage insurance?
Depends on your principal, state & if other policies with same carrier.
What are the benefits of Canadian mortgage life insurance and how does it differ from traditional life insurance policies?
Canadian mortgage life insurance provides coverage specifically for the outstanding balance of a mortgage in the event of the policyholder's death. The benefits include ensuring that the mortgage is paid off, relieving financial burden on loved ones. This type of insurance differs from traditional life insurance as it is tied to the mortgage balance and decreases as the mortgage is paid off, whereas traditional life insurance provides a lump sum payout that can be used for various purposes.
Will my mortgage company endorse my insurance check?
It depends on your mortgage company's policies. Some mortgage companies may endorse your insurance check, while others may require you to use the funds to repair the property. It's best to contact your mortgage company directly to find out their specific requirements.
What term policy are often found in a mortgage insurance?
Typical term policies in mortgage insurance include terms on the homeowners out of pocket deductible before a claim can be paid out by an insurance company. Also it will often list what is covered and what is not. Flood insurance is not typically covered and costs extra.
East West Mortgage charge closing costs on refinances?
Call East West Mortgage to find out about the policies regarding closing costs. Every lender has specific policies about closing costs, what is included and how the fees are handled. If you are considering a refinance with East West, you should phone them and get the information straight from the source.
Do homeowner insurance policies typically include flood coverage?
There is no requirement, but your mortgage company may require a certain amount of coverage that both policies will have to match.
What mortgage protection policies would the average homeowner need?
Not every person needs mortgage protection insurance. It is typically used to pay your mortgage with your life insurance policy. That money would probably be better spent on your family who can spread the money out for food and utilities.
What jobs are out there for an insurance agent?
As an Insurance Agent, you will sell auto insurance to both new and existing customers, and will also provide our existing customers with service on their policies. You will work out of our company office and ensure consistent customer satisfaction as you meet their auto insurance needs.
Does mortgage insurance usually pay off a house if one dies?
This insurance covers the mortgage debt if you should face an untimely death before it is paid. There are life insurance policies that carry optional mortgage coverage insurance that in many cases are more beneficial than what you would receive from your bank. Do some shopping around before making any decisions.
How long does it take a bankrupt insurance co to do a runoff?
Depends on the type and length of the policies (yearly car policy vs. mortgage insurance vs. whole life).
The Value of Mortgage Insurance to All Consumers?
Many people do not realize the importance of purchasing a mortgage insurance policy. A mortgage insurance policy is even more important than the things that are in the home, considering if something happens to default the mortgage loan, the lender is protected. With mortgage insurance, the insurance company basically becomes the beneficiary in the case of any default against the borrower although the borrower purchases the insurance and pays the premiums. Also, many homeowners or buyers do not know that mortgage insurance is a necessity or requirement when it comes to getting any type of home loan to purchase a property. There are two main types of mortgage insurance, Private Mortgage Insurance and Mortgage Protection Insurance. With Private Mortgage Insurance or PMI, if a consumer doesn't hold at least twenty percent equity or cannot put a twenty percent down payment on the mortgage loan a PMI may become a requirement to get any mortgage loan. This is because the PMI is used to protect the lender against any loss in case of default. There is Borrower paid PMI which is where the consumer pays an insurance premium. There is also Lender paid PMI which means the lender pays for the PMI and the lender recovers any premium costs by adding it to the mortgage loan interest charges. The second type is Mortgage Protection Insurance. This type is available in the case that the consumer cannot make their monthly mortgage payments due to financial hardships, illnesses or injuries and other such issues. Within this category is Mortgage Life Insurance which covers the remaining amount of the mortgage loan in case of death. There is also Mortgage Disability Insurance that covers the consumer in the event that the person becomes physically disabled. This coverage usually only pays about fifty to seventy percent of the person's yearly salary towards mortgage payments. A consumer may also get a combination of Life and Disability Mortgage Protection, but it is wise to compare different policies and be knowledgeable of the policies before committing to them. In conclusion, Mortgage insurance policies are in place to protect the lenders but also have options such as the Life and Disability Protection policies to protect the consumer. In any case, every consumer should research the differences, ask questions about premium costs and coverage and not settle for merely one policy if the others may be available to them.
