Mortgage Insurance

Mortgage Insurance at the bank….not a good deal

When you are finishing getting a mortgage or renewing it, the banker will offer you insurance on the mortgage which will pay off the balance should you die with a balance still in place, or will cover up to two years of mortgage payments should you be off work that long due to injury or illness. On the surface, this seems like it might be good coverage, however, there are some significant disadvantages. [click to continue…]