• @Saeveo@lemmy.world
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    191 year ago

    Are you not required to have a joint life assurance policy as a condition of a mortgage in the US?

      • @Corkyskog@sh.itjust.works
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        131 year ago

        You literally beat me to this reply by like 4 minutes haha. Banks were giving variable mortgages to people who could barely afford current rates, they don’t give a shit.

        • @shortwavesurfer@monero.town
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          81 year ago

          I would never ever take an adjustable rate mortgage. That is just begging to get fucked. Like right now for example. My mortgage is like 4.2% but if it were an adjustable id be at like 6+% and be out of a house.

          • @krische@lemmy.world
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            31 year ago

            Or when the housing market is booming, they’ll repossess the house and sell it again for even more of a profit.

            • @Brandon658@lemmy.world
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              11 year ago

              Probably make as much use of the scam mortgage insurance that they can too. I forget what it’s actually called but it’s a scam IMO. $100 a month baked into my escrow for insurance to the lender in case I lost the house. To my knowledge it provides me no benefit.

              Upside is when I refinanced it was taken off. (Think the whole first time home owner program requires it for the initial loan.)

    • @transientDCer@lemdro.id
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      71 year ago

      Not anywhere that I’ve seen, just home owners insurance and mortgage insurance if you pay less than 20% down.

    • Meeech
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      51 year ago

      Nope, at least not for my mortgage. The only thing that was required was a home owners insurance policy.

    • @June@lemm.ee
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      31 year ago

      I bought last year and there was nothing in the process that wanted either of us to have life insurance.