How to know if mortgage insurance or credit life is part of a mortgage?

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How to know if mortgage insurance or credit life is part of a mortgage?

My father-in-law recently passed away and I am trying to help my mother-in-law with bills. My father-in-law had told us that he had credit life on the mortgage. How do I tell if that is true in the documents? What do I look for? Is mortgage insurance different? Are there certain terms to look for? I tried contacting the current lender (has been sold to another company since originally done) and they didn’t see anything about credit life, so I want to verify this.

Asked on November 1, 2011 under Real Estate Law, North Dakota

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

Mortgage insurance is different than life insurance. Whether or not your father-in-law had mortgage insurance or life insurance would not be referenced in any loan documents as to the home.

I would look through the cancelled checks or credit card invoices from the past and see if there is any reference to an insurance company. An insurance company would have placed mortgage insurance or a life insurance policy for the deceased father-in-law. If you know of any local insurance companies that he might have dealt with, I would contact them. Good luck.


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