Do I need mortgage protection insurance on a owner finance property in case of death of seller or buyer ?
Total Comments: 5
Posted: Tue Oct 28, 2014 01:46 am Post Subject:
Your question makes no sense. If the seller dies, that has no effect on the amount owed by the buyer. Mortgage protection insurance only provides coverage for the actual loss incurred when a mortgage loan defaults.
Posted: Thu Nov 20, 2014 06:13 am Post Subject:
Death of seller is making no sense only if he is not involved in the process of taking mortgage at the place of the buyer to help him for buying houses. If buyer and seller both are in seller mortgage plan, then you need mortgage protection insurance.
Posted: Tue Nov 25, 2014 06:31 am Post Subject:
Mortgage Insurance is an insurance plan which pays lenders or investors for losses due to the default of a mortgage loan only. It doesn't have any connection with death of seller or buyer.
Posted: Thu Dec 11, 2014 11:28 am Post Subject:
Mortgage loan doesn't covers Sellers or buyers death. It is just a loan that covers losses due to default.
Posted: Thu Dec 11, 2014 11:29 am Post Subject:
Mortgage loan doesn't covers Sellers or buyers death. It is just a loan that covers losses due to default.
Posted: Tue Oct 28, 2014 01:46 am Post Subject:
Your question makes no sense. If the seller dies, that has no effect on the amount owed by the buyer. Mortgage protection insurance only provides coverage for the actual loss incurred when a mortgage loan defaults.
Posted: Thu Nov 20, 2014 06:13 am Post Subject:
Death of seller is making no sense only if he is not involved in the process of taking mortgage at the place of the buyer to help him for buying houses. If buyer and seller both are in seller mortgage plan, then you need mortgage protection insurance.
Posted: Tue Nov 25, 2014 06:31 am Post Subject:
Mortgage Insurance is an insurance plan which pays lenders or investors for losses due to the default of a mortgage loan only. It doesn't have any connection with death of seller or buyer.
Posted: Thu Dec 11, 2014 11:28 am Post Subject:
Mortgage loan doesn't covers Sellers or buyers death. It is just a loan that covers losses due to default.
Posted: Thu Dec 11, 2014 11:29 am Post Subject:
Mortgage loan doesn't covers Sellers or buyers death. It is just a loan that covers losses due to default.
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