http://millythemortgageguy.com

Today’s installment is part 2 of our “MI WEEK”. It’s kind of like Shark Week, just without the cool action and blood. Seriously though, mortgage insurance deserves it’s own video(s) due to it’s influence on a homeowner’s monthly payment and budget. In today and tomorrow’s installments, Milly talks about what to look for, how to get prepared and what to ask for to make sure you save as much money as possible on this most “volatile” piece of your mortgage payment.

We hope you enjoy today’s installment!

YouTube Video: http://youtu.be/YslWfySjPxo

If you or any of your loved one have any questions regarding mortgage financing, home ownership or banking in general, please don’t hesitate to hit that MILLY button!!

Feel free to share or re-post this video.

www.millythemortgageguy.com

jameym@fairwaymc.com

Phone: 877-407-5656

Duration : 0:4:16

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Mortgage insurance is required in a number of different situations. Find out when mortgage insurance is required with help from a mortgage professional in this free video clip.

Expert: Chris Brown
Contact: www.mortgagechiliblog.com
Bio: Chris Brown works for Certified Mortgage Planners. He has been voted as a “Top 40 Mortgage Professional Under 40″ by National Mortgage Professional magazine two years in a row.
Filmmaker: Andrew Stickel

Series Description: As a homeowner one of the most important types of insurance you can buy is mortgage insurance. Find out about mortgage insurance and learn a few new tips and tricks with help from a mortgage professional in this free video series.

Duration : 0:1:46

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Technorati Tags: annual mortgage, define insurance, homeowners insurance, insurance help, insurance options, insurance plans, insurance tips, insurance tricks, mortgage insurance

What is the difference between mortgage insurance and individual life insurance?

Mortgage life is owned by the bank. It is put into place by the bank and is there to protect the banks balance sheet rather than your family. Each and every time you move or refinance your mortgage you must re-qualify medically for coverage and if you have had a change in health and now you don’t qualify, you are left without coverage. With individual life you own the policy and it follows you… not your mortgage.

With mortgage life if you do pass away, all the money goes directly to the bank not to your beneficiaries or loved ones as is the case with individual life.

With mortgage insurance the bank will get only the amount outstanding on the mortgage itself, whereas with individual life insurance the full amount of the initial insurance policy goes to YOUR beneficiaries… not just the amount left outstanding on the mortgage! Your beneficiaries can choose what to do with the money.

Lastly… individual life insurance is based on your health rather than a general health… therefore… it’s typically cheaper!

Another good piece of information is a documentary done on CBC Marketplace in 2008 called “In Denial.” The documentary shows the viewer how once you sign the paperwork to buy your house you are asked if you want to protect your new investment. If the answer is yes, and we suspect it would be, you are asked to sign here. You skim a solid page of small print and thinking you are healthy you sign on the dotted line. This documentary goes on to show how few people are paid out under these polices and some of the issues that can arise. (Check it out at http://www.cbc.ca/marketplace/in_denial/)

Duration : 0:4:35
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Technorati Tags: Abbotsford, BC, canada, creditor protection, Langley, Life Insurance, mortgage insurance, Surrey

jpg” align=”left”/>We look at the incredibly accurate B-J Indicator to see what 2012 holds in store for us plus learn about the different types of mortgage insurance and how to remove it at the proper time.

Duration : 0:8:10

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Technorati Tags: Dallas, Financier$, Financiers, Fort Worth, mortgage insurance, Mortgage Loan, mortgages, real estate

n=”left”/>Discover what your bank is not telling you about your mortgage insurance!

Duration : 0:6:31

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Technorati Tags: canadian mortgage insurance, how to get mortgage insurance, mortgage insurance