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    kanddfree's Avatar
    kanddfree Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jan 1, 2009, 03:59 PM
    Mortgage ins?
    I would like to apply for a !) year mort.------i have excellent credit but poor health---------i don't want my wife saddled with a payment if I die before the loan is paid _----------any options for me?
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
    Ultra Member
    		  
    #2

    Jan 2, 2009, 05:54 AM

    Mortgage insurance doesn't protect you, it protects the lender. Life insurance is what you are looking for. Take out a policy larger than the price of the mortgage. If you were to pass, your wife would be able to use some of the life insurance to pay off the house.
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