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Q: Do FHA loans have mortgage protection insurance plans that cover the payoff of the loan in case of death of either of the spouses or both?
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Is the mortgage on a house pay off upon death?

No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.


How do you know if you had mortgage insurance?

This depends on what you mean by mortgage insurance. If you are talking about products like PMI (Premium Mortgage Insurance) look on your escrow billing and it will be listed. If you are talking about a life insurance policy that would be either through credit life with your mortgage company or separately through an insurance company.


What services does Protection Insurance offer?

Protection Insurance covers a wide range of issues, most commonly to do with expenditure and income. Payment Protection Insurance (PPI) is a common insurance policy that ensures that the consumer will always be repaid their debt even if the borrowers circumstances do not enable them to do so. There is also Income Protection Insurance, which covers any income and not just debts. Furthermore, you can get Mortgage Protection, Family Income Protection and Loan Protection Insurances. Basically, anything that involves a payment and there is a chance that either party will not be able to comply with their part of the deal can have a Protection Insurance to ensure that the costs will always be covered, regardless of circumstance.


What happens to a mortgage when the owner dies and has children but no will and no insurance to pay off the mortgage?

The estate must be probated. Either the children need to pay the mortgage or the bank will take possession of the property by foreclosure.


Can you get mortgage insurance that includes life disability and unemployment?

Mortgage insuranceFor mortgage - I don't know of any companies that offer unemployment coverage other than through the State, those links are on the disability page. If you are self employed you can get unemployment and disability at your option through the State (CA) if your an employee, it's mandatory New answer 11/07/08 - if you are talking about private mortgage insurance, yes there are companies that offer PMI that have an option for disability and unemployment coverage.Add on answer 02/18/2011- You can purchase additional riders for the Mortgage Protection Insurance which is a form of Life Insurance with the premiums to be paid by the company if the owner is disabled or unemployed. Check with your agent first before jumping into any product and ask around.:Yes, you can add unemplyment mortgage protection, as well as disability income benefits to your mortgage insurance policy. A good agent can compare different rates from multiple companies and help you through the process.


The husband has his name only in the mortgage deed and mortgage insurance if he dies would mortgage company get the house or would the wife?

The mortgage insurance you are referring to is most likely the standard mortgage insurance that is on a loan above 80% of the value of the house. This MI covers the lender in case of the borrower defaulting on the loan. It does nothing to help the borrower. If you are on the deed then you still own the house if your husband dies but if you cannot either refinance the mortgage or continue to pay the monthly payments then the lender will ultimately foreclose on the house and repossess it. What you need is a life insurance policy that will pay off the balance on the mortgage in case of the death of the mortgage holder.


Can you insure a car not titled in your name?

can you have insurance on a car if the title is not in your name? Generally, no. You don't have anything to insure (called insurable interest). The only time this is permitted is with spouses. The car's title may be in either name, but may be on the others insurance.


When does title insurance begin?

It begins at the time and date of recording of the vesting instrument, which is generally either the deed (for an owner's policy), or the mortgage (for a lender's policy).


What is force place coverage insurance?

Forced placed insurance coverage is insurance that is put on your property without your control because you either don't have the insurance you are required to carry or the mortgage company has not received a satisfactory copy of the insurance declaration page. You are responsible for paying for this coverage as they add it to you mortgage account balance. The forced placed coverage on covers the balance of the money owed on your mortgage and does not cover anything else like your contents are not covered, liability is not covered, etc. Only the banks interest is covered and the price is extremely high especially when you consider what they are actually covering.


If a person left a house in a will with a mortgage payment what happens with the mortgage?

The mortgage has to be resolved. Either it must be sold and the mortgage paid off, or the person inheriting obtains a replacement mortgage.


Which kind of renters insurance are recommended for older people with a house?

If your parents bought their house they do not need renters insurance but they do need house insurance. They should insure the house for two things, one for the contents and any damage to the home, and two if there is a mortgage they should have insurance to cover that in the event that anything should happen to either of them.


What are the benefits of an unoccupied house insurance?

Unoccupied house insurance provides a level of protection against losses/damaged caused by either natural disasters as well as acts of man-made vandalism that may take place.