MORTGAGE PROTECTION PLAN [mortgagecalculator-tips.blogspot.com]
Although weakened by decades of court decisions ignoring its original meaning, the clause remains a vital protection of private property rights, particularly where the government seeks to seize property from one private party for the narrow benefit of ... San Bernardino Mortgage Seizure Plan Raises Serious Constitutional Concerns
When Do I Need Life Insurance?
There are a number of factors that affect whether life insurance is or is not is a good idea. Â In general, if you have any responsibilities that would still need to be fulfilled should you pass away suddenly, getting life insurance to protect those who would be left behind is a good idea. Â If you have any of the following responsibilities you may want to consider life insurance.
You have children and/or a spouse.
You have outstanding debts.
Your income is essential to the maintenance of your family's lifestyle.
You own a home on which there is still an outstanding mortgage.
Life insurance is meant to protect your loved ones should anything happen to you, and any number of financial responsibilities could become an enormous burden on them should you pass away.
What Type Of Life Insurance Is Best For Me?
There are a number of different types of life insurance policies available on the market, and finding the one that is best for you may seem like a difficult task. Â Essentially there are two types of life insurance: term and permanent. These types of policies offer you different benefits depending on your personal circumstances. Â In most cases your first life insurance policy should be purchased when you are young and in good health. Â A term policy is also a good idea for a first life insurance policy as it will give you the most coverage for the lowest premiums. Â Permanent insurance can offer you a return on your investment, but for most people other types of investments, at this point in their lives, are a better idea.
In general, no matter what your situation, life insurance is a smart purchase. Â Contacting an insurance agent to get professional advice on which type of life insurance is right for you will give the information you need to make t hat choice.
Question by loglog84: First time home buyer, Mortgage company keeps sending me about protection insurance plan? should I sign up? Hi My family just bought a new home and the mortgage company keeps sending me mails such as IMPORTANT NOTICE COMPLETE AND RETURN mortgage protection insurance plan and life insurance plan. They make it sound like I must fill these forms out and apply. I feel like they are just extra payments that I have to make. Are they necessary? Thanks! Best answer for First time home buyer, Mortgage company keeps sending me about protection insurance plan? should I sign up?:
Answer by Webhoo
it depends on if your family works and if they have / dont have life insurance. Mortgage Protection protects you if become unemployed and/or die (have to read the terms because some only offer one while others are more protective). So read the fine print and check with your family's financial plan to see if this would cover or is duplicate of what you already have. They are not necessary usually but contact the lender direct (not the numbers on the mail you are getting because they are most likely the ones trying to sell you this) to see if it is mandatory. You will find out its not.
Answer by Tracy
Well buddy looking at the current real estate scenario, recession has played a big role in i t, so if you are taking first step towards you dream home I would surely suggest you to research a bit on the title lending , title defects , in other words these are insurance that you can avail on your property.There are many sites which co uld prove useful to you like : http://www.titledefectpolicy.com and other one..on policy defects...these should prove useful .
Answer by Ed Atun
This is a life insurance plan that pays off your mortgage if you die. It is one of the worst kinds of insurance that you can buy. Avoid it..
