Walk a Kb or Two in my Moccasins- Nobody 'splained it to me like that!

Simple answers to Complex Questions and Complex Answers to Simple Questions. In real life, I'm a Greater-Toronto (Canada) Realtor with RE/MAX Hallmark Realty Ltd, Brokerage. I first joined RE/MAX in 1983 and was first Registered to Trade in Real Estate in Ontario in 1974. Formerly known as "Two-Finger Ramblings of a Forensic Acuitant turned Community Synthesizer"

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- Realtor (2nd or 3rd best you'll likely run into)
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Friday, September 24, 2010

Pt 2-What is mortgage loan insurance?

Q.....Pt 2-What is mortgage loan insurance?

from Zoocasa Ask the Pros

A..... In addition "Mortgage Loan Insurance" might mean the Life Insurance offered by your Lender to pay off your mortgage in the event you or your spouse dies.




Quickly - do NOT buy the insurance offered by the Lender ... it's a good deal for the Lender .... but lousy insurance - you pay, but they own the policy.



Get your own term (or other type) of Life Ins from a reputable Life Ins co and ask them to explain the differences - declining balance, constant payment, transfering the mortgage cancels the converage etc etc

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