mortgage company as life insurance beneficiary

Submitted by sunwomansanders on Thu, 10/23/2014 - 14:39

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

Posted: 28 Oct 2014 01:57 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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