What great support Jennifer, way to pay it forward!
Daniel, as always, sound advice.
Dear Mamie,
I am sorry to hear about your unfortunate set of circumstances. It has been tough just reading this. I was going through some issues myself, but you put my issues in perspective for me and really, these issues are nothing to what you have to face daily.
You are a strong woman to even keep going. To have the will to reach out and try and fight show such courageousness on your behalf. I feel all you need is a little guidance and you will be fine.
I am not very familiar with Credit Life Insurance, but I dug up some information to maybe help you:
24/7 Quote US - Online Insurance Quotes, Tips, and News! | Mortgage Life Insurance - Should You Buy It?
When a family moves into a new home they will want to protect their investment, and will want to make sure that the other family members will have a place to live if one breadwinner should pass away, become ill, or hurt. In addition, credit is becoming a more important criteria for risk classification. Since the family qualified for a mortgage, the insurance company can assume that credit is reasonably sound.
Yahoo Answers Credit life insurance is frequently recommended in conjunction with taking out an installment loan when buying expensive appliances or a new car, or for debt consolidation. Is credit life insurance a good buy?
Credit life insurance is frequently more expensive than traditional term life insurance. Further, if you already own a sufficient amount of life insurance to cover your financial needs, including debt repayment, buying credit life insurance is normally not advisable due to its relatively high cost.
Unnecessary Insurance Policies: Mortgage Protection Life Insurance - Mortgage Rate News What is mortgage life insurance?
Mortgage protection life insurance will pay off your mortgage if you happen to die. This is different from
private mortgage insurance. Private mortgage insurance is required when you get a home mortgage with less than a 20% down payment. This is insurance for the lender, in case you default on the home mortgage loan.
Mortgage protection life insurance, however, is different. This is a life
insurance plan that comes into effect when you die. It is often sold as a way for your family to keep the house if you die. However, the only time you would need such a thing is if you do not already have a life insurance plan.
Regular life insurance can cover your home mortgage
When you get regular life insurance, it will cover all of these expenses. Life insurance is designed for a payout to your family, providing money that they can use to pay bills and to live on. One of these bills is the mortgage. If you want to see your family protected, you can get a life insurance policy that covers the amount you owe on your home mortgage loan. That way, the house can be paid off if you die.
It is worth noting that term life insurance offers the largest coverage for the least amount of money. Carefully consider what would work best for you; often a combination of whole life and term life is the ideal for most people. Just make sure that you are
covered to adequately provide for your family.
Regular life insurance can cover your home mortgage loan in the event that you die. By carefully considering your options, you can pay less in premiums, but still have the coverage your family needs — without getting an unnecessary mortgage protection life insurance policy.
If you need a good attorney for this try
National Association of Consumer Advocates – Consumer Protection Advocates and Attorneys. Please let us know if you have any more question and I apologize that it took sometime to answer you questions.