- Posted January 26, 2014 by
This iReport is part of an assignment:
- Don't Let Student Debt Stop You from Buying a Home, Maximize Your Purchasing Power
- Using Rental Income from a single family or condo to qualify for a home purchase
- Mass Housing Home Loan for Condos Five Things You Need To Know
- Family Opportunity Home Loan Program for Parents of College Students
- Custodial Accounts Money For Your Children Not Your Home Purchase
Mortgage Creditor Protection A Dirty Secret of the Mortgage Industry Explained
Three things I feel very confident in is The sun will rise, The government loves taxes, and if you buy a home you will be solicited to buy Mortgage Creditor Protection sometimes known as Mortgage Life Insurance.
Mortgage Creditor Protection is a a financial product which declines in value as the borrower pays more premium to the insurer. Mortgage Creditor Protection promises to pay out an amount equal to the client's outstanding mortgage debt at any point in time, which is a decreasing sum. Therefore mortgage life insurance is extremely profitable for lenders and or insurers and equally as disadvantageous to borrowers.
Do not be a sucker Mortgage Creditor Protection is a dirty secret of the mortgage industry and shame on any company that offers this product.
- Boston Mortgage Lender & Home Loans