What are the cases of mortgage insurance?

Without the "insurance" you have no bank will not release the mortgage in a long "voyage." Therefore, when applying for a loan in advance to prepare the additional financial cost. In general, the law laid insure only property which is pledged to the bank. But lenders still push their demands. For example, the borrower to insure your life and work capacity, as well as the risk of loss of housing due to fraud. "Pitfalls are many, and better protect yourself. Cases of mortgage insurance • Insurance collateral (cottages, apartments, etc.). Risk of exposure to the property of natural disasters, as well as third parties (theft, arson) occurs quite often. • Life insurance and disability of the borrower. In case of illness or loss of working capacity of the borrower, the insurance company will compensate all the payments on the mortgage bank. • title insurance. The risk of loss of property rights, and deceit by a third party. Well-known cases where the builder sells the same house a few people - in this case, title insurance will be protected. Trust their Most banks cooperate with certain insurance partners. Borrowers are desirable to insure these companies. If the borrower has a "insurer" and change it does not want you should look for a bank that would not oppose third-party companies. What is the cost of insurance when you make a mortgage contract, you can read here.