Asked by Lily, Pensacola, FL • Fri Mar 4, 2011
Since I don't have kids, I haven't needed a lot of life insurance. Would a lender require me to buy a policy to cover the mortgage balance? Of course, anyone can die prematurely and, for all I know, the purchase of insurance to cover the balance might be written into every mortgage, including the one I have now. I think the good thing I am taking away from this is that age is not a barrier to getting a new mortgage.
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