Because both are sometimes referred to as "Mortgage Insurance", Many people confuse PMI with MPI when asked if they have Mortgage Insurance. Do you know the Critically Important difference?
PMI , or "Private Mortgage insurance." Only protects your lender.
PMI was required by your mortgage company at the time of your loan if your down payment was less than 20% of the purchase price of your home. It is automatically included in your mortgage payment and will remain included untill your mortgage balance is 78% or less than your original mortgage. PMI does not protect you, it only protects your mortgage company in the event you default on your mortgage. It reimburses the mortgage company for the expenses they incur in foreclosing on your property.
MPI , or "Mortgage Protection Insurance", protects you, the home owner and your family, by providing the funds to pay off the mortgage balance if the home owner should die before completing the mortgage. Leave a Deed, Not A Debt. Get MPI , "Mortgage Protection Insurance".
Level Term Life Insurance is often chosen as a low cost way to provide Life insurance protection for a specified period of time. For example, to cover a Home Mortgage or a Business loan, or until the youngest child in the family has grown and is no longer a dependent.
Level Term life insurance is commonly purchased to cover periods of 10 years, 15 years, 20 years, or 30 years.
During the selected period, both the insurance benefit and the premium remain level.
A SPECIAL NOTICE TO OUR VALUED VISITORS:
IT IS OUR INTENTION TO ACT AS A RELIABLE CONDUIT OF INFORMATION FOR OUR VALUED VISITORS. AS SUCH, IN ORDER TO assist in provIDing THE MOST RELEVANT AND ACCURATE INFORMATION AVAILABLE, WE HAVE FOUND IT ESSENTIAL TO FORM AFFILIATE RELATIONSHIPS WITH SELECT, RENOWN, MERCHANT PARTNERS. THESE PARTNERS PROVIDE US WITH THE ABILITY TO ASSIST YOU IN FINDING THE PRODUCT OR INFORMATION YOU ARE SEEKING. TO ENABLE THIS, WE ARE PROVIDED WITH DIRECT LINKS TO THEIR SECURE SITES. SOME OF THESE SITES PROVIDE Their COPYRIGHTED INFORMATION, OR PRODUCTS FOR SALE. IF YOU DECIDE TO PURCHASE THEIR PRODUCTS OR COPYRIGHTED INFORMATION, THEY WILL PAY A NOMINAL ADVERTISING FEE TO THE SITE WHO'S LINK DIRECTED YOU TO THEM.
Copyright © 2018 National Discount Domains