Comments on: Mortgage Insurance Secrets – The Dark Side of Mortgage Insurance http://www.lastbamboo.org/mortgage-insurance-secrets-the-dark-side-of-mortgage-insurance Mon, 03 Aug 2009 09:25:10 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Bird lady http://www.lastbamboo.org/mortgage-insurance-secrets-the-dark-side-of-mortgage-insurance/comment-page-1#comment-14 Bird lady Mon, 23 Feb 2009 10:43:19 +0000 http://lastbamboo.org/mortgage-insurance-secrets-the-dark-side-of-mortgage-insurance#comment-14 Mortgage insurance is also called decreasing term. It's for the remainder of the mortgage, if you die, and only pays the payoff. It costs MORE than regular term. So, you're BETTER off if you buy a level term policy - it's cheaper, and it DOESN'T decrease each year. There's ALSO disability coverage. It's a different policy, and depending on your ages/health, it can be pretty expensive. Unemployment is NOT a private coverage in the us, you can ONLY get it through your state unemployment office. Talk to your agent that does house and auto - ask him if he sells level term coverage, and/or disability coverage. If he doesn't, ask him for a LOCAL referral. IF you're with a direct writer, ask a neighbor or friend who their local agent is. I really really strongly recommend dealing with a local agent. If you can't find one, these guys are pretty good, and licensed in most of the 50 states: www.zanderins.com Mortgage insurance is also called decreasing term. It's for the remainder of the mortgage, if you die, and only pays the payoff. It costs MORE than regular term.

So, you're BETTER off if you buy a level term policy – it's cheaper, and it DOESN'T decrease each year.

There's ALSO disability coverage. It's a different policy, and depending on your ages/health, it can be pretty expensive. Unemployment is NOT a private coverage in the us, you can ONLY get it through your state unemployment office.

Talk to your agent that does house and auto – ask him if he sells level term coverage, and/or disability coverage. If he doesn't, ask him for a LOCAL referral. IF you're with a direct writer, ask a neighbor or friend who their local agent is.

I really really strongly recommend dealing with a local agent. If you can't find one, these guys are pretty good, and licensed in most of the 50 states: http://www.zanderins.com

]]> By: jcravatt1 http://www.lastbamboo.org/mortgage-insurance-secrets-the-dark-side-of-mortgage-insurance/comment-page-1#comment-13 jcravatt1 Mon, 23 Feb 2009 10:19:35 +0000 http://lastbamboo.org/mortgage-insurance-secrets-the-dark-side-of-mortgage-insurance#comment-13 PMI is a ripoff....AIG was supposed to help banks who had defaulted mortgage loans but instead it went bankrupt! Now the tax payer must save AIG so what good is PMI if the banks cannot insure the mortgage loan? PMI is a ripoff….AIG was supposed to help banks who had defaulted mortgage loans but instead it went bankrupt! Now the tax payer must save AIG so what good is PMI if the banks cannot insure the mortgage loan?

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