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From: dberg@noscvax.UUCP (David I. Berg)
Newsgroups: net.invest
Subject: Re: Mortgage Insurance
Message-ID: <81@noscvax.UUCP>
Date: Sat, 2-Nov-85 13:00:39 EST
Article-I.D.: noscvax.81
Posted: Sat Nov  2 13:00:39 1985
Date-Received: Tue, 5-Nov-85 06:09:51 EST
References: <1229@mhuxt.UUCP>
Organization: Naval Ocean Systems Center, San Diego
Lines: 27

> Does anyone have any comments on the worth of mortgage insurance?
> 

From my point of view it has a great deal of worth, but it would depend on each
individual's personal and fincancial situation.  Assuming a married couple,
especially with children, if the mortgage payments are dependent on the income
of all the breadwinners in your home, the loss of any part of that income would 
place your home in jeapordy.  If the mortgage could be supported by the income
of either spouse working alone (assuming both sposes are working), the risk is
far less and the value of mortgage insurance would be considerably less. 

The question to ask is: If my household should lose my income, could my family
continue to live comfortably in their present home?  If the answer is no, then
mortgage insurance should be seriously considered.

Mortage insurance can be bought for either or both spouses; joint insurance
is cheaper than two separate policies.  It is not very expensive.  I am at
age 42 and pay a little over $200 per year for $110,000.00 of mortgage 
insurance.  (My policy covers me alone; it is not a joint policy.)
-- 

David I. Berg (dberg)
ARINC Research Corporation
San Diego, CA

MILNET: dberg@nosc
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