Posted on: 03rd Feb, 2010 12:38 pm
my husband has a usda loan in his name only on our home is there usually mortgage insurance with those loans if my husband would die how does mortgage ins. work tried to talk to someone there but they wouldnt speak to me because iam not on the loan
What type of mortgage insurance are you asking about are you talking about a policy you and your husband purchased or one that the bank has? If you pay mi each month in your payment then that would only benefit the bank. If something happened to your husband the home would be settled in his estate it would have to be refinanced into your name or sold.