Should a home buyer get ‘Mortgage Insurance’ when buying a home?

1163 days ago via bokauffmann    Discuss    Real Estate
When buying a home (house or condo) it is often suggested that the buyer get ‘mortgage insurance’. Note:  This is NOT the same as Property (Home) Insurance, which is mandatory.  “Mortgage Insurance” is actually a type of life insurance which pays the remaining balance of your mortgage in the event of your death.  Sounds like a good idea, but digging a little deeper reveals that: 1) Your premiums remain the same, even as your payout decreases over time.  (As you pay down your mortgage) 2) As the home owner, you do NOT get to decide where the money goes.  If

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