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Thread: Importance of mortgage insurance

  1. #1
    Join Date
    Oct 2016

    Importance of mortgage insurance

    I have been looking for workshop space near Toronto to start a workshop of my own. I have found one property near Toronto and I am going to consult one mortgage broker in Canada to buy it. I have heard of mortgage insurance. What is the importance of mortgage insurance protection? Is there any separate procedure for it? If somebody knows about this in detail, please help me with your replies. Thank you in advance.

  2. #2
    Join Date
    Apr 2011
    Largo, FL.
    Mortgage protection insurance, or MPI, is also called mortgage payment protection insurance, or MPPI. It's simply life insurance that pays your mortgage if a certain event, such as death, disability or job loss occurs.

  3. #3
    Join Date
    Aug 2020
    Mortgage insurance has many benefits. The biggest one is that such insurance lowers the risk to the lender of making a loan to you, so you can qualify for a loan that you might not otherwise be able to get.

  4. #4
    Join Date
    Dec 2021
    I completely agree with the previous post. Home insurance is an absolutely necessary thing for the people who don't want to put their comfort in a risk. We had couple of different warranties already and next time i am going to talk to liberty home guard customer service as i heard a lot of good things about them from my co-workers.

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