What is difference between Mortgage Insurance and Homeowners ...

Thanks.
So are you saying that with the mortgage insurance?if I die?my house is paid for. My wife can live in it and not pay mortgage?

Chosen Answer:

Mortgage life insurance is limited life insurance that pays off the loan balance if you die.

Private mortgage insurance (PMI) or FHA mortgage insurance protects the lender if the borrower defaults on the loan.

Homeowner insurance consists of liability and property protection.

Totally different things. Which kind are you talking about?
by: rotflol
on: 20th September 08

Source: http://unoccupied-propertyinsurance.com/what-is-difference-between-mortgage-insurance-and-homeowners-insurance/

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