Quote:
Originally Posted by Kiran403
Sure but is there a way to cancel it now? If I can lower my payment or apply the insurance portion to the actual mortgage amount, that would be best.
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Not really how it works. You’ve paid the premium. It’s gone. There’s no getting it back.
If you renew, the default insurance stays in place. If you do a HR transfer, it stays in place. If you refinance, it’s gone. But your mortgage balance is the same in all 3 scenarios. The rate offered to you might be different tho.