Mortgage Insurance Tips

Seven Tips for Applying for a Mortgage Successfully
Are you looking for a home mortgage? Some activities would make it hard for you to obtain financing. Here are the most important things you should avoid.
Facts on Mortgage Insurance
A lender's mortgage insurance offers convenience. But this convenience comes at a price - inferior coverage, and in most instances, significantly higher premiums. In most cases, consumers blindly sign up without taking the time to examine their options.

6 Responses to “Mortgage Insurance Tips”

am int. in info re obtaining mortgage ins.
tel 854 7695
cell 872 0212

ken wilbur thought on September 3rd, 2008 9:50 am
Hi Ken,

Thanks for the note. I have sent you a seperate email - feel free to contact me regarding mortgage insurance. The above number don’t have an area code. Regards … Lorne

lorne thought on September 3rd, 2008 3:23 pm
I noticed that I m paying a small amount every mo nth for ins I assume has to do with my mortgage with scotia bank I was wondering what coverage am I paying for

Ruth Nicholson thought on September 14th, 2008 12:38 pm
Hi Ruth,

It could be your mortgage insurance. But you would have to contact your bank to verify.

We would be happy to provide you with a comparitive quote. Please feel free to visit the link below or contact me directly.

http://lsminsurance.ca/calculators/canada/term-life.php

Regards … Lorne

Lorne S. Marr CFP MBA
President
LSM Insurance
2900 John Street Suite 302
Markham, Ontario L3R 5G3
Tel: 905-248-4849 Cell: 647-388-3617
Toll Free: 1-866-899-4849 Fax: 905-300-4848
lorne@lsminsurance.ca www.lsminsurance.ca

lorne thought on September 14th, 2008 1:08 pm
Saturday, April 4, 2009

A recent broadcast on the CBC show MARKETPLACE had a special issue on mortgage life insurance and how the institutions which provide it always seek and find a way to deny coverage once a claim is actually made, leaving the policy holders in an extraordinarily precarious position. They use the strategy known as post claim underwriting.

What I find truly troubling is that no one of the institutions mentioned in that broadcast made any reply whatsoever to any of these allegations.

Can you please tell me what is the truth.

Sincerely,

Sam Kohen
Kingston
Ontario

sam kohen thought on April 4th, 2009 7:41 pm
Hi Sam,

Thanks for the comment. You make an excellent point that much of the underwriting on a mortgage insurance policy via the bank is done at the yime of claim.

Individually insurance policies almost always give a better value - the premiums are usually much lower, more options and the underwriting is completed at the time of application.

Regards … Lorne

lorne thought on April 5th, 2009 8:41 am

Mortgage Insurance Tips