Mortgage Protection Insurance Vs. Life Insurance Vs. PMI

What would happen if you were to pass away before the mortgage on your home is paid off? Will your loved ones have enough money to keep current on the loan?

One option is mortgage protection insurance, also called mortgage life insurance, which pays off your mortgage in the event of your passing. Mortgage protection insurance isn’t right for everyone, however, so it’s important to weigh the pros and cons carefully, and understand how this type of policy contrasts with other kinds of insurance.

What does mortgage protection insurance do? 

Mortgage protection or mortgage life insurance is a form of life insurance that’s designed to pay off your mortgage debt in the event you pass away before the balance is paid in full.

“Typically, mortgage protection insurance is sold as an option after closing on your home,” explains Herb Dorow, an agent with Maris Brown Insurance Group in Rochester Hills,

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How to score an ultra-low 30-year mortgage rate for your refinance


These 3 Penny Stocks Have Massive Upside Potential, Says Cowen

It’s a mixed bag when it comes to opinions on penny stocks. These tickers trading for less than $5 per share divide Wall Street like no other; market watchers either love them or hate them.It’s easy to understand the appeal. First and foremost, you get more bang for your buck. On top of this, with shares changing hands for bargain prices, even what seems like miniscule share price appreciation can translate to monstruous percentage gains. For some, however, the risk poses too great a threat to ignore. When you look under the hood of these low-priced names, you might find very real problems like poor fundamentals or looming headwinds.So, how are investors supposed to spot the penny stocks poised to go from rags to riches? By turning to the pros.With this in mind, we wanted to take a closer

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How to land an ultra-low 30-year mortgage rate for your refinance

Refinancing your home to take advantage of today’s lowest-ever mortgage rates has been one of 2020’s hottest crazes, right up there with baking your own bread, wearing joggers and making TikTok videos.

a fire hydrant in front of a house: How to get an ultra-low 30-year refinance rate

© @zekkino / Twenty20
How to get an ultra-low 30-year refinance rate

Homeowners this year have been refinancing at more than double the rate seen in 2019, according to research from Attom Data Solutions.

Plunging mortgage rates have given homeowners a major incentive to refinance and save. An estimated 19 million Americans could refi and lower their interest rates enough to slash their monthly payments by an average $299, says mortgage data firm Black Knight.

Rates have just dropped to their 10th record low this year, in the long-running weekly survey from mortgage giant Freddie Mac. Some lenders are advertising 30-year rates at 2.5% and even lower.

But borrowers need to hurry to beat a new refinance fee

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Looking for Yield? Mortgage REITs Offer Double-Digit Returns.

What little I know about the martial arts is a result of misspelling, transposing a couple of letters in “marital.” I have heard that one principle of some martial arts is to use the weight and force of one’s opponent against him. In my experience, however, this doesn’t work well in the marital arena, and it’s more likely that you’ll be the one who’s flipped onto the mat.

In financial terms, leverage can be used to flip the force of interest rates to your advantage. It can also leave you flat on your back.

Borrowing money at low rates to invest at a higher yield is a winning strategy, until it isn’t, as when the cost of funding rises or the value of, or return from, the investment falls. A perfect storm hit earlier this year when markets nearly melted down, the cost of borrowing jumped as funding markets seized

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Today’s mortgage rates continue to hover at historic lows | October 15, 2020

Our goal here at Credible is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders, all opinions are our own.

Check out the mortgage rates for October 15, 2020, which are largely unchanged, except for a drop in 15-year fixed rates from last week. (iStock)

Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, mortgage rates continue to hover at historic lows. They’ve remained largely unchanged since this time last week, with the exception of 15-year fixed rates.

  • 30-year fixed mortgage: 2.750%, the same as last week
  • 20-year fixed mortgage: 2.750%, the same as last week
  • 15-year fixed mortgage: 2.125%, down from 2.250% last week, -0.125

Rates last updated on October 15, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

To find the best mortgage rate, start

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Make sure that letter from a new mortgage loan servicer isn’t a scam

A: It’s hard to believe that it has been a full four years since you made a mortgage payment on your home, and you’ve been unable to figure out how to at least pay the real estate taxes. But let’s take your email as it is and start to unpack it.

We suspect you may have more serious issues to contend with than simply the lack of payments for your mortgage and real estate taxes. How this ends could be catastrophic: You could lose your home because of the tax sale or you could lose your home because of the failure to make your mortgage payments.

Let’s start with the assumption that you initially had a 30-year loan on your home and that the loan servicing issue came about 11 years into the loan term. We mention this because you may have put down 10 percent or 20 percent when

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How to score an ultra-low 15-year mortgage rate for your refinance


Needham Sees at Least 30% Upside Potential for These 3 Tech Stocks

Out on Wall Street, who has been leading the charge forward? Tech. After the space’s key players dragged the market lower in September due to overheated valuations, tech is once again at the helm.The rise in tech makes sense. The pandemic helped accelerate a move toward remote work and telecommuting, and this in turn has put a premium on tech products. From the 5G rollout, to improvements in semiconductor chips, to the expansion of IoT and smart device capabilities – tech is everywhere, and it’s growing fast.Bearing this in mind, we turned to Needham, which lands among the top ten on TipRanks’ list of Top Performing Research Firms, for some inspiration. The firm’s analysts highlight three tech stocks that appear especially compelling, noting at least 30% upside potential could be in store for each.We’ve used the TipRanks

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How to negotiate a better mortgage rate

Did you know that you can negotiate your mortgage rate? Here’s how to do it. (iStock)

As a soon-to-be homeowner, one of the most important steps of buying a home is securing an affordable mortgage rate. To secure the lowest rates, you may have to negotiate.

With that in mind, there are things home buyers should do when negotiating your mortgage rates. Armed with this knowledge, you should be able to use your negotiating power to the fullest and find lower rates. Here are five ways to negotiate a better mortgage rate:

  1. Compare multiple lenders and loan rates
  2. Ask a bank or lender to match other mortgage offers
  3. Use discount points
  4. Build up your credit card history and score
  5. Make a bigger down payment

1. Compare multiple lenders and loan rates

One personal finance tip shared all the time is to shop around for mortgage rates. This tip

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How to land an ultra-low 15-year mortgage rate for your refinance


7 Growth Hacks for a Bulletproof Electric Car Portfolio

For years, Tesla (NASDAQ:TSLA) was synonymous with electric car stocks. While other automobile manufacturers have toyed with electric vehicle technology, arguably none had put as much skin in the game as Elon Musk and company. But with the surge in demand for EVs, we’ve likewise seen a rapid rise in publicly traded corporations specializing in this field. But many are left wondering how to invest for growth in this exciting market without getting burned.
Undoubtedly, growth investing is a pivotal component for shorter-term and longer-term strategies. Even if your goal as a young investor is to facilitate a comfortable retirement, you most likely can’t get there by playing it safe. As with anything in life – whether making a career move or buying a house – you’ve got to take risks. At the same time, you can’t just throw money

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Should you roll your student loans into your mortgage?

When you combine mortgage and student loans, there are some pitfalls. Learn about the risks as well as alternatives. (iStock)

For many Americans, the coronavirus has created unprecedented financial challenges, which may make repaying your loans feel like even more of a burden. If you’re trying to make debt payoff easier or otherwise looking to cut corners during these troubled times, you may be considering combining multiple debts, including a mortgage and student loans.

While it is possible to combine your mortgage and student loans into one big debt under certain circumstances, this isn’t always the best option as there are some considerable risks and downsides. There are also some other alternatives for providing more flexibility in your budget

Is it smart to roll student loans into mortgage?

Usually, the process of combining your mortgage and student loans involves taking out a cash-out mortgage refinance loan and then

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