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Mortgage protection insurance is an insurance policy that pays off the remainder of your mortgage if you pass away or if you become disabled and can’t work. In that way, it functions similarly ...
However, paying off your mortgage might also free up cash that you can use for other purposes. Your accountant or a financial advisor can suggest ways to leverage the money you’re saving. You ...
The proceeds of your life insurance can be used for any purpose, including paying off your mortgage. Life insurance is also more flexible, able to be used for any expense, while mortgage ...
Collateral Protection Insurance, or CPI, insures property held as collateral for loans made by lending institutions. CPI, also known as force-placed insurance and lender placed insurance, [1] may be classified as single-interest insurance if it protects the interest of the lender, a single party, or as dual-interest insurance coverage if it protects the interest of both the lender and the ...
Payment protection insurance (PPI), also known as credit insurance, credit protection insurance, or loan repayment insurance, is an insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill, disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt.
OHA may also be paid in certain circumstances if the dependents are living overseas, for example if a member is deployed, and the dependents stay in a country outside of the US. Frequently a "utility allowance" also accompanies OHA. This is usually a flat rate given to the member to cover the cost of utilities, regardless of the actual amount.
An acceleration clause is a section of a mortgage contract that can have big consequences: Namely, it can require you to pay off your entire mortgage at once. Even if you miss only one payment.
Defense Enrollment Eligibility Reporting System (DEERS) is a computerized database for United States Service members, military retirees, 100% VA Disabled Veterans, dependents, DoD active Contractors, and others worldwide who are entitled to Public Key Infrastructure and TRICARE eligibility.