How to Avoid Mortgage Insurance?

Avoiding mortgage insurance is not always an easy thing to do, especially if the borrower is financially strapped. However, it can be done. What exactly is mortgage insurance? There is several mortgage-related insurance-mortgage protection insurance and private mortgage insurance (PMIs), to name a few. However, we will only be elaborating …

What Is Mortgage Insurance Eligibility?

Mortgage insurance is insurance that the borrower must purchase for the lender. Mortgage insurance is sold to borrowers who are a higher risk for the lender. The insurer agrees to sell insurance to cover the lender in the case of non-payment by the insured. The home buyer must pay for …

Mortgage Insurance – What You Need to Know!

Be careful with this type of insurance. Mortgage protection is designed to help protect you, while Lender’s mortgage insurance will work to protect your financial institution holding your mortgage. When you take out a lender’s mortgage insurance policy, you are not protecting yourself. This type of insurance protects the financial …