mortgage company as life insurance beneficiary

by sunwomansanders » Thu Oct 23, 2014 02:39 pm

What are the pros and cons of naming the mortgage company on the life insurance policy?

Total Comments: 1

Posted: Tue Oct 28, 2014 01:57 am Post Subject:

There are no "pros". Why would you want the mortgage company to be your life insurance beneficiary? If you are dead, who cares about the mortgage? The lender will foreclose and resell the property, collecting any loss from the PMI/MIP insurance carrier.

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