• DoomBot5@lemmy.world
    link
    fedilink
    English
    arrow-up
    90
    arrow-down
    4
    ·
    1 year ago

    That’s what life insurance polices are for. Will be pretty hard to get one with her cancer diagnosis though.

    • Saeveo@lemmy.world
      link
      fedilink
      English
      arrow-up
      19
      ·
      1 year ago

      Are you not required to have a joint life assurance policy as a condition of a mortgage in the US?

      • stalfoss
        link
        fedilink
        arrow-up
        51
        ·
        1 year ago

        lol no, the bank doesn’t care, they’ll just take your house if you can’t pay

        • Corkyskog@sh.itjust.works
          link
          fedilink
          arrow-up
          15
          ·
          1 year ago

          You literally beat me to this reply by like 4 minutes haha. Banks were giving variable mortgages to people who could barely afford current rates, they don’t give a shit.

          • shortwavesurfer@monero.town
            link
            fedilink
            English
            arrow-up
            8
            ·
            1 year ago

            I would never ever take an adjustable rate mortgage. That is just begging to get fucked. Like right now for example. My mortgage is like 4.2% but if it were an adjustable id be at like 6+% and be out of a house.

            • krische@lemmy.world
              link
              fedilink
              arrow-up
              3
              ·
              1 year ago

              Or when the housing market is booming, they’ll repossess the house and sell it again for even more of a profit.

              • Brandon658@lemmy.world
                link
                fedilink
                arrow-up
                1
                ·
                1 year ago

                Probably make as much use of the scam mortgage insurance that they can too. I forget what it’s actually called but it’s a scam IMO. $100 a month baked into my escrow for insurance to the lender in case I lost the house. To my knowledge it provides me no benefit.

                Upside is when I refinanced it was taken off. (Think the whole first time home owner program requires it for the initial loan.)

      • transientDCer@lemdro.id
        link
        fedilink
        English
        arrow-up
        8
        ·
        1 year ago

        Not anywhere that I’ve seen, just home owners insurance and mortgage insurance if you pay less than 20% down.

      • Meeech@lemmy.world
        link
        fedilink
        arrow-up
        5
        ·
        1 year ago

        Nope, at least not for my mortgage. The only thing that was required was a home owners insurance policy.

      • June
        link
        fedilink
        arrow-up
        3
        ·
        1 year ago

        I bought last year and there was nothing in the process that wanted either of us to have life insurance.

    • AeonFelis@lemmy.world
      link
      fedilink
      arrow-up
      11
      ·
      1 year ago

      Love how everyone in this subthread are sure they all live in the same country with the same rules and same banking system.