Sentences with phrase «paying off a mortgage upon»

Mortgage Life Insurance pays off the mortgage upon the death of the mortgagor / owner.

Mortgage Life Insurance pays off the mortgage upon the death of the mortgagor / owner.

A first - to - die policy can be useful when your only consideration is paying off the mortgage upon either death and you do not wish to retain any insurance once you have paid off the mortgage.

Decreasing term was designed to pay off your mortgage upon the death of the homeowner, or the person paying the mortgage if that is someone other than the owner of the home.

If only I had bought that policy that would have paid off that mortgage upon my death.

This policy was designed with the express intent of paying off a mortgage upon the death of a home owner.

Not exact matches

This touches on something that's seldom remarked upon: The ROI may be better if the money is used for investments than to pay off the mortgage, but the risk profile is entirely different.

Private mortgage lenders like securing loans to property, which they can sell off to recoup if you are unable to pay agreed upon fees.

A term policy can be structured for a specific term that pays a lump sum upon your death which can be used for any purpose, including paying off your mortgage.

Your mortgage is paid off and your kids have grown up and left home, so the financial security life insurance offers may not seem as crucial as it did once upon a time.

Some loans can be repaid upon refinance, sale or if you otherwise move out of the home or pay off the first mortgage in full.

The borrower signs a promissory note payable to HUD which is interest - free and due and payable upon pay - off of the first mortgage.

Other popular reasons for having life insurance include: Income replacement for dependents; to pay off debt like a mortgage or a line of credit; to create an emergency fund; to cover final expenses incurred upon your death; for estate planning reasons or to leave money to a favourite charity.

Unlike a Canada mortgage loan where you may be penalized if you make bulk payment san pay for the mortgage faster (depending upon the type of mortgage you have), you can pay off the HELOC installments whenever you have the extra cash.

Once upon a time, if you had a lot of credit card debt and owned a home, you could get a second mortgage to consolidate and pay off your debt.

The mortgage may be paid off, but what if the best decision upon your death is to do something different with the money?

For example, using it to pay off the mortgage on your marital home is not smart considering the matrimonial home is split upon divorce.

If you do have a mortgage that you would like to be paid off, paid down, have payments made, or have your equity in your home protected upon death, then mortgage protection is a perfect solution for you and your loved ones.

Upon death, your family has the option of paying off the mortgage or investing the funds.The Bank's mortgage insurance must be used to pay off the mortgage regardless of interest rates and other investment opportunities.

Mortgage protection insurance is a policy sold by your mortgage company or bank that pays off your outstanding loan upon youMortgage protection insurance is a policy sold by your mortgage company or bank that pays off your outstanding loan upon youmortgage company or bank that pays off your outstanding loan upon your death.

This strategy assumes that upon your death, your spouse invests the death benefit proceeds, which will earn a conservative 6 %, and draw off of that money to pay down the mortgage over time, rather than apply the entire $ 350,000 to the mortgage balance immediately upon your death.

As the mortgage is paid off the need for the higher payout upon death is reduced therefore this coverage decreases not only the payout upon death as time goes by but also has lower premiums.

This thoughtful parent may buy the policy on his or her own life and upon death the mortgage is paid off.

Your face amount, or «death benefit» is paid to your spouse or heirs upon your death, allowing them to cover any loss of income and pay off any debts you might have, such as a mortgage or a major loan like the one you are pursuing from the SBA.

These term insurance policies pay off your mortgage balance upon your death.

These policies are designed to pay off ones mortgage balance upon the death of the insured.

Decreasing term insurance was designed to pay off the balance owed on a mortgage upon the death of the person making the mortgage payments.

And finally you have to consider how much debt your beneficiaries will be left with upon your demise, and if you want them to have the ability to pay off that debt in one lump sum, or to continue to make payments on the mortgage, car loan etc..

Upon your death, the mortgage on the house will automatically be paid off.

So if you'd like to have your mortgage paid off upon your death, keep it simple, and go with a regular term life insurance policy.

But since it is an insurance product designed specifically to pay off your mortgage, the proceeds will go directly to your lender upon your death, and not your beneficiaries.

Mortgage credit life insurance is designed to pay off the balance of a home mortgage upon the death of the insureMortgage credit life insurance is designed to pay off the balance of a home mortgage upon the death of the insuremortgage upon the death of the insured party.

Mortgage life insurance that will pay off their loans upon their death is available to homeowners, however.

Upon the completion of acquisition, I would have this investor utilize the positive cashflow from both properties to aggressively pay off the mortgage on the first property while making regular payments on the second.

a. Extended Repayment Plan — An agreement between the lender and borrower, where the borrower has an extended time period to bring their mortgage current by (i) paying the usual mortgage payment, plus (ii) an additional agreed - upon amount to pay off the delinquency.