Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10.2 (Tek) 9/28/84 based on 9/17/84; site shark.UUCP
Path: utzoo!linus!decvax!tektronix!orca!shark!davew
From: davew@shark.UUCP (Dave Williams)
Newsgroups: net.consumers
Subject: Re: Junk offers...
Message-ID: <1575@shark.UUCP>
Date: Wed, 9-Oct-85 14:05:47 EDT
Article-I.D.: shark.1575
Posted: Wed Oct  9 14:05:47 1985
Date-Received: Sat, 12-Oct-85 06:28:44 EDT
References: <615@decwrl.UUCP> <242@pyuxii.UUCP>
Reply-To: davew@shark.UUCP (Dave Williams)
Organization: Tektronix, Inc., Graphic Workstations Division
Lines: 29
Summary: 

In article <242@pyuxii.UUCP> tw8023@pyuxii.UUCP (T Wheeler) writes:
>Just a note to say that, if you feel the need for some
>type of mortgage protection, DO NOT BUY MORTGAGE INSURANCE.
>Go out and buy a normal every day decreasing term policy.
>They are much much cheaper and provide the exact same
>protection as so-called mortgage insurance.  Mortgage
>insurance is nothing more than decreasing term with
>a fancy name and a fancier price.
>T. C. Wheeler


The people who sell this type of policy try to impress on the
prospective buyer that the mortgage is paid off completely, including
pay-off penalties, should the insured die. Pay-off penalties, if
they are wriitten into your mortgage, are typically 3 to 6 months of
interest on the loan. Even including this money into a good decreasing
term policy, the premiums can be one-half or less of a comparable
mortgage insurance policy. Don't be afraid to shop around.
-- 


                                    Dave Williams
                                    Tektronix, Inc.
                                    Graphic Workstations Division
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