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Firstly it depends on the policy and type of that mortgage insurance, whether the company support the fact if the spouse was living in your house or don't. There are 23 condition from which a person die gets the mortgage paid; which more or less cover every type of death.
Read more about the mortgage insurance premium!
LINK
Read more about the mortgage insurance premium!
LINK
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While there is mortgage life insurance that would pay off the mortgage, I believe you are talking about private mortgage insurance, which is insurance for the lender covering the amount of the loan over 80% in case of default. Your spouse, as with many borrowers has been paying (standard for the industry) this lender's insurance. Sorry.
Sincerely,
The mortgage buyer
ps. This site has a lot of mortgage terms on it if you have other questions. FHA mortgage
Sincerely,
The mortgage buyer
ps. This site has a lot of mortgage terms on it if you have other questions. FHA mortgage
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What if there was no insurance, is there any other assistance out there to help with mortgage payments after the death of a spouse?
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Guest
answered 6 months ago
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