Mortgage Insurance Question

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IASAD

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Hi. My husband was just diagnosed in January. We are still trying to figure out all the benefits available to us and how to navigate through everything.

We have applied for the adaptive housing grant and we are in the process of being approved for that. We were told that once we're approved, we will be able to get the mortgage life insurance. It is only my husband's name on the mortgage and the deed, although he left me the house in his will. He bought the home before we were married.

Should we also try to get my name on the deed and/or mortgage at this time or does it not matter for the insurance? I would rather not add more to our plates if we don't need to.
 

chally

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I don' t think it matters. I willed our house to my daughter and her name is not on the deed.
Your right , you have to get sag grant approved.
Good luck
 

KimT

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I think it would be worthwhile to consult an attorney in your state who specializes in trusts and estates. It will be money well spent.
 

gooseberry

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Changing a deed is pretty simple in florida. I would make everything joint so it is easier with the va. You want the mortgage i surance. While u may have to pay a premium, they will pay off your house if your husband passes.
 

GregK

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There is no 'may pay' for the mort ins, that doesn't get waived.
 

IASAD

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GregK, what do you mean by that?
 

gooseberry

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You must pay a premium for this insurance. Premium is based on amount owed
 

GregK

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not to be confused with the VA life insurance which for the basic coverage, can have the premiums waived.
 
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