MPPI is Mortgage Protection Payment Insurance
2006-06-10 06:46:46 · 4 answers · asked by Paula M 5 in Business & Finance ➔ Insurance
If this is protecting your mortgate payment against layoffs or illness, then it's extremely high. You'd have to have a claim every 9 months to equal the mortgage premium. I've had mortgages continuously for over 30 years and have never had a claim.
If you're talking about PMI -- Private Mortgage Insurance, then it may be about right, depending upon the equity in your home and your credit rating.
2006-06-10 09:29:14 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
That seems high, if the P+I portion of the mortgage is only $937.
2006-06-10 13:49:40 · answer #2 · answered by TheOnlyBeldin 7 · 0⤊ 0⤋
It depends on your age, smoker, etc. They have return of premium insurance now. Which means you get all of your money back if you don't use the coverage. Here's a good link. www.refundedpremium.com
2006-06-13 15:02:51 · answer #3 · answered by Anonymous · 0⤊ 1⤋
call around
2006-06-10 13:48:40 · answer #4 · answered by investing1987 3 · 0⤊ 0⤋