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Path: utzoo!watmath!clyde!burl!ulysses!mhuxr!mhuxt!houxm!mtuxo!drutx!druil!lat
From: lat@druil.UUCP (TepperL)
Newsgroups: net.consumers
Subject: Re: mortgage insurance
Message-ID: <1616@druil.UUCP>
Date: Sun, 22-Sep-85 01:36:59 EDT
Article-I.D.: druil.1616
Posted: Sun Sep 22 01:36:59 1985
Date-Received: Tue, 17-Sep-85 04:48:13 EDT
References: <252@mot.UUCP> <23@pyramid.UUCP>
Organization: AT&T Information Systems Laboratories, Denver
Lines: 12

> Mortgage insurance is usually much more expensive than regular decreasing
> term (the mortgage holder gets a cut). If you already have a life insurance
> policy, you can usually increase your coverage at nominal cost; this is
> usually even more convenient than the mortgage insurance. 

We recently received an offer for mortgage insurance on our place.  The
cost per dollar of insurance was almost 3 TIMES that of a regular term
insurance policy suggested by our insurance agent.  No way, Jose.  And,
as you mentioned, proceeds from the mortgage policy must be used to
pay the mortgage.
-- 
Larry Tepper	    {ihnp4 | allegra}!druil!lat		+1-303-538-1759


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