Posted on: 25th Dec, 2011 01:47 am
you can avoid risk of mortgage by prior mortgage insurance. when you r going to document the mortgage contract avoid compounding interest and make insurance prior to your mortgage contract!
Hi alvinajohn,
It is true that mortgage insurance is a great way to avoid the risk of defaulting on mortgage payments. You can contact your lender and he will help you in getting a mortgage insurance.
Thanks
It is true that mortgage insurance is a great way to avoid the risk of defaulting on mortgage payments. You can contact your lender and he will help you in getting a mortgage insurance.
Thanks
is escrow company do the same thing like mortgage insurance?
Hey alvinajohn,
Escrow is how the mortgage company guarantees that they receive payments. They don't want to leave it up to the borrower because if you don't pay taxes, the government can actually take the property, making it extremely hard for the lender to get their investment back. Like mortgage insurance, you may be required to have it; that's how they make sure that you're making payments.
Hope this helped
Escrow is how the mortgage company guarantees that they receive payments. They don't want to leave it up to the borrower because if you don't pay taxes, the government can actually take the property, making it extremely hard for the lender to get their investment back. Like mortgage insurance, you may be required to have it; that's how they make sure that you're making payments.
Hope this helped
"Hey alvinajohn,
Escrow is how the mortgage company guarantees that they receive payments. They don't want to leave it up to the borrower because if you don't pay taxes, the government can actually take the property, making it extremely hard for the lender to get their investment back. Like mortgage insurance, you may be required to have it; that's how they make sure that you're making payments.
Hope this helped"
Sorry, that was me that replied, i was not signed in.
Escrow is how the mortgage company guarantees that they receive payments. They don't want to leave it up to the borrower because if you don't pay taxes, the government can actually take the property, making it extremely hard for the lender to get their investment back. Like mortgage insurance, you may be required to have it; that's how they make sure that you're making payments.
Hope this helped"
Sorry, that was me that replied, i was not signed in.
A mortgage insurance is an insurance policy which protects the mortgage lenders from the losses occurred due to default on the mortgage loan. You need to contact your lender regarding this.