A simple tip to lower monthly mortgage expenses | Loans

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Is there any possibility to reduce the monthly mortgage loan? Clear! By modifying the factors that affect a decrease can be achieved. Lower the rate, increase the term, for example. Or, verify the cost of insurance. The best prognosis is that nothing happens, but, you never know, so please pay for peace of mind insurance.

When acquiring a mortgage loan

When acquiring a mortgage loan

Always, when acquiring a mortgage loan, the financial institution will require insurance that responds to the property in case of damage or destruction and, also, insurance that pays the bank the outstanding monthly payments of the credit if the policyholder dies.

The property that serves as collateral and the total value of the loan

The property that serves as collateral and the total value of the loan

It is barely obvious: the bank protects its interests, that is, the property that serves as collateral and the total value of the loan. But attention, i nteresa only the bank?

Sometimes clients ask why you have to pay these insurance n. I question them :

If something happened, what would you prefer? If, in a fire, the house you are paying would be affected, you would have to pay the settlement and continue paying the monthly payment! If you were missing, your family would have to keep paying the credit! The best prognosis is that nothing happens, but, you never know, so please pay for peace of mind insurance.

The bank that the insurance had canceled the outstanding debt on the house

The bank that the insurance had canceled the outstanding debt on the house

When a friend’s father died, the mother , very confused by such an event, did not know whether to cry or celebrate. I had just received notification from the bank that the insurance had canceled the outstanding debt on the house. Missing 12 0 monthly payments.

It is barely obvious: the bank protects its interests, that is, the property that serves as collateral and the total value of the loan. But attention, i nteresa only the bank?

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