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What else can I help you with?
Is Mortgage Protection Life Insurance a good idea?
Mortgage Protection Life Insurance is a good idea if you want to protect your mortgage. It pays the outstanding balance of your mortgage if the mortgagor (insured person) dies. Mortgage protection life insurance coverage is usually in the form of decreasing term insurance, with the amount of coverage decreasing as the outstanding mortgage debt decreases. Usually, the proceeds of the mortgage protection life insurance are paid to the beneficiary, which is the mortgage company holding the mortgage loan. Some people choose instead to buy level term life insurance in the amount of the mortgage, and the benefits are paid to the insured's beneficiary (family member), who in turn can use the proceeds for any reason, including to pay the mortgage.
Does mortgage insurance pay off mortgage for inheritors?
Mostly, mortgage insurance plans are made to protect the home of the insured, if they fall ill, meet an accident or discontinue their job due to some reasons. Even if they pass away while the mortgage insurance is active, the inheritors don't have to pay for anything and the insurance provider takes care of the pending mortgage debt as that family members can live in their home happily. Hence, the short answer is Yes, they do. If you are willing to know more about mortgage protection insurance, you can visit optinsure.com for the same.
Is it legal to transfer your mortgage to your family member?
It depends, and if ever it is possible the family member that you would transfer your mortgage to, would be liable for the repayment of the debt of your mortgage.
Where can one find commercial mortgage brokers in Ontario?
The internet is a bountiful resources for finding such information very quickly. By using e, finding the appropriate information should be no problem, and often has information regarding rates and lending rules. Alternatively, looking in the local directory for a mortgage broker under the heading of mortgage broker, banks or financial lender. Furthermore, asking friends and family who own houses may be a good source of information.
What is the difference between term insurance and mortgage insurance?
Term insurance is a type of life insurance that provides coverage for a specific period of time, typically 10, 20, or 30 years. It pays out a death benefit if the insured person dies during the term of the policy. Mortgage insurance, on the other hand, is a type of insurance that protects the lender in case the borrower defaults on their mortgage payments. It does not provide any benefits to the borrower or their family.
What are the basics for Virgin Money's Family Mortgage program?
Virgin Money's Family Mortgage program sets up home loans between family members. In their basic program, they provide the legal documentation needed to protect everyone involved in the loan. They also offer full servicing and full closing programs, but these programs are more expensive.
Is Mortgage Protection Life Insurance a good idea?
Mortgage Protection Life Insurance is a good idea if you want to protect your mortgage. It pays the outstanding balance of your mortgage if the mortgagor (insured person) dies. Mortgage protection life insurance coverage is usually in the form of decreasing term insurance, with the amount of coverage decreasing as the outstanding mortgage debt decreases. Usually, the proceeds of the mortgage protection life insurance are paid to the beneficiary, which is the mortgage company holding the mortgage loan. Some people choose instead to buy level term life insurance in the amount of the mortgage, and the benefits are paid to the insured's beneficiary (family member), who in turn can use the proceeds for any reason, including to pay the mortgage.
Is the American bulldog a dangerous breed not insured by American family insurance?
No an American bulldog is not a dangerous breed not insured by American family insurance.
What are Internet programs?
Internet programs are websites or a kind of system that helps people research information or even email to friends and family.
Does mortgage insurance pay off mortgage for inheritors?
Mostly, mortgage insurance plans are made to protect the home of the insured, if they fall ill, meet an accident or discontinue their job due to some reasons. Even if they pass away while the mortgage insurance is active, the inheritors don't have to pay for anything and the insurance provider takes care of the pending mortgage debt as that family members can live in their home happily. Hence, the short answer is Yes, they do. If you are willing to know more about mortgage protection insurance, you can visit optinsure.com for the same.
Is it legal to transfer your mortgage to your family member?
It depends, and if ever it is possible the family member that you would transfer your mortgage to, would be liable for the repayment of the debt of your mortgage.
I want to receieve information on how to get my family insured?
You can do some preliminary research and look at all the different policies available. Your best source of information is to call agents from different companies and talk to them about what you want.
Where can one find commercial mortgage brokers in Ontario?
The internet is a bountiful resources for finding such information very quickly. By using e, finding the appropriate information should be no problem, and often has information regarding rates and lending rules. Alternatively, looking in the local directory for a mortgage broker under the heading of mortgage broker, banks or financial lender. Furthermore, asking friends and family who own houses may be a good source of information.
What are the two basic types of catastrophic plan?
There are two types of catastrophic plans. The first type aids the insured when his/her medical benefits have reached its maximum. The second type aids the family member(s) of the insured when the insured can no longer provide for the family.
How do I convert a mortgage for a multi family into a mortgage for a single family once the property has been converted?
You need to discuss the matter with the lender. The lender owns the mortgage and is the only party that can modify the terms.
What is the difference between term insurance and mortgage insurance?
Term insurance is a type of life insurance that provides coverage for a specific period of time, typically 10, 20, or 30 years. It pays out a death benefit if the insured person dies during the term of the policy. Mortgage insurance, on the other hand, is a type of insurance that protects the lender in case the borrower defaults on their mortgage payments. It does not provide any benefits to the borrower or their family.
When a family member dies can another family member takes over there property legally with a reverse mortgage?
No. The reverse mortgage must be paid off first.
