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How does homeowner's insurance factor into my mortgage payments?
Posted : 28/04/2024 3:32 pm
Homeowners insurance and mortgage insurance are two different types of insurance. Homeowners insurance is a type of property insurance that protects your home and its contents from damage caused by unforeseen events, while mortgage insurance (also called private mortgage insurance or PMI) is an insurance policy designed to protect the lender in case you can’t meet your mortgage payments. Homeowners insurance is usually required if you have a mortgage, and you may be able to bundle your homeowners insurance payments with your mortgage payments.
Posted : 30/04/2024 10:30 pm