Legal Question in Real Estate Law in New York

pmi insurance

i would like to how would i find

out if my mother had mortage insurance.

and if mortage insurance mean that if she

dies that the house is paid for?


Asked on 8/24/00, 4:09 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: pmi insurance

First place to check is with the mortgage company. usually they arrange for the insurance for their mortgagor. This is uaually a reducing term policy that should cover any mortgage balance, and may even have some excess if your Mom made any prepayments or it was a fixed amount and did not reduce its coverage each year. This is harder to discover if your Mom had a private policy, not through her mortgage company/bank. You should check her canceled checks to see if she was paying premiums directly or through automatic deduction.

Good Luck.

Walter

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Answered on 8/24/00, 10:05 am


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