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I Feel Lucky
"Thank you Kay for the great job you did in finding and completing the purchase of my new residence. You really showed great perseverance in helping to locate the home that met all my hoped for preferences, which was not an easy task considering my numerous requirements. I feel very lucky to be in the home we found."
Larry Manes
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Insurance >Do You Need Mortgage Protection
If you have a mortgage on your home, you may have received several offers from insurance companies that sell coverage to pay off your mortgage in the event you die unexpectedly. Although insurance in general is a good idea, mortgage insurance is usually a poor value in most cases.
If you read the large print, it appears that the policy will protect your family if you die before your mortgage is paid off. All you have to do is fill out the paperwork, have a physical exam, and pay a little more each month. The fine print, however, may limit the coverage relating to accidental death. If there are two people on the deed of trust, the policy may pay only half if one of them dies.
When considering mortgage insurance, call a good insurance agent before you send in your forms. Insurance experts usually advise against separate policies to cover various contingencies. A regular term life insurance policy equal to the amount of your mortgage will probably offer you a lot more coverage for your money.
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| Q |
Who is "Freddie Mac", and why is he a big name in real estate?
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| A |
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERT™ 
