What exactly is Mortgage Insurance?

Tips and Deals Forums Home Insurance What exactly is Mortgage Insurance?

Viewing 0 reply threads
  • Author
    Posts
    • #391687
      Anonymous
      Inactive

      What is Mortgage Insurance and what is its purpose? I know someone who recently lost their home due to a fire. They didnt have homeowners insurance but still owed the bank roughly $ 5,000 on the home. Will this “Mortgage Insurance” cover the loss and more importantly the $ 5,000 that was left on the note?

Viewing 0 reply threads
  • You must be logged in to reply to this topic.
Register New Account
Reset Password