Quote:
Originally Posted by fotze
I echo that sentiment, can almost guarantee that you are getting ripped off if the lender is offering the insurance. Also, if you have any other life insurance the mortgage insurance may not even pay out. Some sort of double dipping clause.
Also, life insurance gives you the amount you take it out for, mortgage only covers the mortgage amount, that will be going down every month.
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MMMMmmm, double dipping! Yeah I have zero insurance! Well car insurance, but no life or anything. Again, just me to worry about right now - no wife, kids, dog, cat, g/f (debatable
), etc.