Mortgage insurance is an additional cost for homeowners whose down payment on a property is below 20 percent. This insurance is intended to insure the mortgage in the event that the borrower defaults (ie is unable to make regular mortgage payments). Mortgage insurance would be considered a fixed expense for estate settlement as the payment would be the same each month. Executors should be aware of all legal contracts, especially insurance as the need to safeguard assets is crucial when administering an estate.
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What to do when a loved one dies
When people die, they leave behind a life that must be closed out. Don't tackle it all alone. From planning the funeral to tackling the legal & financial estate, here's an ultimate checklist of all the things an executor needs to do following the loss of a loved one.
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