Mortgage Protection Insurance

Mortgage Protection Insurance

An insurance policy that makes mortgage payments on behalf of the policyholder in the event of financial hardship. For example, if a policyholder loses his job, mortgage protection insurance would make his house payment for up to, say, six months as he looks for work. Mortgage protection insurance allows one to face difficulty without the immediate fear of losing one's home.
References in periodicals archive ?
Areas linked to the housing market, such as mortgage protection insurance, will decline.
When June signed up to the new mortgage deal, she also transferred her mortgage protection insurance - which would guarantee to pay her mortgage if she fell ill.
The premiums for his mortgage protection insurance have dropped.
Stamp Duty - still payable on properties costing a penny over pounds 120,000 - legal and survey fees, buildings and mortgage protection insurance all come as a shock for one-third of new buyers.
Marks and Spencer's mortgage protection insurance undercuts mortgage providers by up to 51 per cent on average.
The Disaster Mortgage Protection insurance unit of ACE Select Markets--the division of ACE USA that focuses on the underwriting and marketing of specialty insurance products targeted towards specific insurance buyers--advises homeowners in every region of the U.
The NCA's life insurance cost comparison survey showed there were potential savings of up to [euro]7,509 on term life insurance and [euro]6,841 on mortgage protection insurance.
Categories: Business, Industry, and Consumers, Budget obligations, Community Development Block Grant, Federal aid for housing, Federal debt, Federal Home Loan Bank System, Federal regulations, Home Affordable Modification Program (HAMP), Housing, Housing programs, Lending institutions, Low income housing, Low-Income Housing Tax Credit (LIHTC), Mortgage interest rates, Mortgage loans, Mortgage programs, Mortgage protection insurance, Mortgage-backed securities, Reorganization, Risk assessment, Risk management
The premiums for his mortgage protection insurance have dropped: "I've just added Lindsay's name to the mortgage and, because I haven't smoked for over a year, the premiums on our mortgage insurance will be dropping.
It also allows you to make overpayments and free mortgage protection insurance is provided for the first six months.
Q I took out mortgage protection insurance which would cover the repayments if I was unable to work.
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