Will renewing my mortgage affect my insurance?

  • by Alex
  • May 08,2018
  • 4 answers

Will renewing my mortgage affect my insurance?


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Insurance Answers (4)

? 3 months ago

if you refinance im sure they can work with you on stuff like that .. in the end you'll likely lose on interest rates or something .. the best move if you have any equity is sell and find something you can get into cheaper with a lower payment ect ..

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alex 3 months ago

No

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Casey Y 3 months ago

Well, if you drop your current mortgage and the life is written in conjunction with the mortgage...do you know if you can transfer that policy? Or, would that policy cease when you refi?
If it ceases when you refi...then you would be obtaining a new policy...with a new contestability clause.

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babyboomer1001 3 months ago

The life insurance you have is separate from your mortgage, right? So that will not be affected. Mortgages are not renewed. They are written through a contractual period and there is no mortgage left at the end of it. If you take out a loan and use your house as collateral, then there will be a second mortgage on the house. Your insurance may be affected in that case but, not likely. No, the 2 year contestabiltiy period will not start over.

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