When looking for a home loan should I also shop for low rate mortgage insurance policies, too?
My husband and I are looking for a place to buy. We both have good jobs, but we want to buy something that we can afford together. If something were to happen to either one of us, I would want our home investment to be protected. We both have life insurance policies, but aren't sure if that is enough. Any thoughts on this? Knock on wood... by bently33_115_386 from New York, New York. Aug 15th 2011
George DeVIne (gdevine)
#7 ranked lender in Rhode Island - 46 contributions
You should review this with your financial planner. If you don't have one, have a family member, friend, or co-worker refer you to one. An advisor will review your overall financial situation and advise you on how much insurance you should carry. In the end, you should take out a regular life insurance policy where your spouse is the beneficiary, not your mortgage lender thru "mortgage insuranace".
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