My mother was the cosigner on our home mortage. She recently passed away. Does the mortage life insurance cover the remaining balance of the loan?

Asked by Shootzandscores, Hancock, MI Sat Oct 26, 2013

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Yanni Raz, Mortgage Broker Or Lender, los angeles, CA
Thu Nov 7, 2013
I would check with the insurance company!
0 votes
Bayron Bliss, Agent, Bellflower, CA
Mon Oct 28, 2013
Please do not make any assumptions....
Check with the insurance company, the beneficiary of said policy...
The Insurance agent that helped you procure that policy will know what the procedure is...
Better to ask and know than wonder in uncertainty...
0 votes
LuLu DeBolt, Agent, La Crescenta, CA
Sun Oct 27, 2013
Hello' please review all documents pertaining to the house ,check with insurance carrier it may or may not ,best wishes
0 votes
carlos parra…, Other Pro, Monrovia, CA
Sat Oct 26, 2013
you are on policy, insurance will probably not kick in.
0 votes
Brad Korb, Agent, Burbank, CA
Sat Oct 26, 2013
You should check your documents,you can also call the insurance company,since she was only a co- signer you may not be able to get your loan paid off . Good Luck !!
0 votes
Kathleen Bec…, Agent, Santa Monica, CA
Sat Oct 26, 2013
I agree with the two answers below. Check with your insurance carrier to see what is covered. Also, check your vesting to make sure that your mothers portion of the property will transfer to you...Joint Tenancy.

Good luck.

0 votes
Cindy Davis, Agent, San Diego, CA
Sat Oct 26, 2013
Why not call the company that offers the mortgage life insurance and ask them what they cover?
0 votes
Thierry Abel, Mortgage Broker Or Lender, Corte Madera, CA
Sat Oct 26, 2013
You should call your lender/servicer or review the documents that were provided to you at close of escrow
0 votes
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