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What steps would one have to take to get a mortgage when they are on unemployment insurance?
Getting a mortgage if you are unemployed is pretty much impossible. Fortunately, there are some mortgage companies that offer unemployment insurance protection. However, you need to be employed first. If you attempt to get a loan without a job, it is pretty much impossible. If you were to get a mortgage, you would have to make a lot on unemployment insurance.
What else can I help you with?
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.
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.
What would make a mortgage insurance premium increase?
There are many things that would make a mortgage insurance premium increase. Mortgage insurance is used when someone dies and pays money so that the mortgage will be paid. Smoking or participating in dangerous activities will increase the premiums.
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.
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.
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.
Are mortgage insurance premiums deductible on your taxes?
No they are not or the death benefit would be taxable. Since you said mortgage insurance I am assuming that you mean PMI or Private mortage insurance and not mortgage life insurance. Yes, mortgage insurance is tax deductible as of 2007. You can see the amount of PMI paid for the year on the final escrow statement that your mortgage lender sends you in December or January.
What companies sell cheap mortgage insurance in the UK?
The best place to shop for cheap mortgage insurance in the UK would be your local financial bank. They usually offer insurance at the same time when one applying for a mortgage.
What situations does mortgage insurance cover?
There are many different situations covered by a mortgage insurance plan. The most common issue addressed by the company would be a missed or late mortgage payment.
Will your be son be responsible for the mortgage on the property left to him in your will?
Yes, unless you arrange for insurance to pay the mortgage in the event of your death. Your son would inherit the property subject to the mortgage. He would need to continue paying the mortgage or the bank will take possession of the property by foreclosure.Yes, unless you arrange for insurance to pay the mortgage in the event of your death. Your son would inherit the property subject to the mortgage. He would need to continue paying the mortgage or the bank will take possession of the property by foreclosure.Yes, unless you arrange for insurance to pay the mortgage in the event of your death. Your son would inherit the property subject to the mortgage. He would need to continue paying the mortgage or the bank will take possession of the property by foreclosure.Yes, unless you arrange for insurance to pay the mortgage in the event of your death. Your son would inherit the property subject to the mortgage. He would need to continue paying the mortgage or the bank will take possession of the property by foreclosure.
If the congress increased the number of weeks workers can collect unemployment insurance would it decrease unemployment?
moderate conservative
