Posted on: 24th Aug, 2009 11:56 am
one should always make sure that person should always pay for the insurance of the mortgage irrespective of the mortgage amount.
In most of the cases when one applies for a mortgage loan it is done mandotarily by many of the lenders.This question only arises whnen someone is taking a mortgage from one's own kinsmen, family friends.
In most of the cases when one applies for a mortgage loan it is done mandotarily by many of the lenders.This question only arises whnen someone is taking a mortgage from one's own kinsmen, family friends.
fred, this post makes no sense at all. what are you driving at?
are you trying to discuss homeowner's insurance (fire, theft, casualty, etc.) or mortgage life insurance (crappy policy in which a loan is paid off upon death of the insured borrower) or mortgage insurance (aka private mortgage insurance, for loans greater than 80% of the home's value)?
and what in the world are you talking about with "kinsmen" and "family friends?"
are you trying to discuss homeowner's insurance (fire, theft, casualty, etc.) or mortgage life insurance (crappy policy in which a loan is paid off upon death of the insured borrower) or mortgage insurance (aka private mortgage insurance, for loans greater than 80% of the home's value)?
and what in the world are you talking about with "kinsmen" and "family friends?"
Interesting Discussion
if you say so, sunny...what part of it? please elaborate.
That was not a serious commnet.
That was more in funny way.
I love these crazy posts and your also your response to these posts.
I just enjoy them
That was more in funny way.
I love these crazy posts and your also your response to these posts.
I just enjoy them
ahhhh...facetiousness...and believe me, i ought to know about that! i've been in your shoes all too often.
yeah that was me
Last time there was a post here at this community that father had officially offered mortgage to his daughter and this is not the single example.I just wanted to convey that lender (here read father in this particular case) should make sure that borrower is paying towards the insurance of the mortgage.Most of the time it is ignored.
I hope i have cleared my views.
I hope i have cleared my views.