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Jeffery Said:

Mortgage insurance, will it pay my mortgage while husband is sick?

We Answered:

I hate to sound morbid here, but generally speaking mortgage insurance payments become effective only in case of the the person's death. I am pretty sure it does not include illness which may cause him not to work. This would probably be covered by Workman's comp. Or disability insurance.

Leona Said:

Can I get out of paying my mortgage insurance if my home appraises for more than 20% of the amount I owe?

We Answered:

YES!

Talk to your mortgage servicer (the co. that sends you the mortgage statement) about their proceedure to cancel MI. You will need an appraisal from their list of approved names and you WILL have to pay the ~$350 fee at the door.

Best of luck!