Is Life Insurance A Legal Requirement For A Mortgage?

  1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    No it is not a legal requirement.  Many lenders however will require mortgage life insurance to protect themselves.  Also, there have been cases where a judge has required a divorced spouse to carry life insurance to cover a mortgage or protect minor children although these cases would depend on the situation.  As a general rule however, you are not legally required to carry mortgage insurance.
    Answered on August 16, 2013
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