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As it moved to seize home, bank never told widow her loan was insured

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a variation of whole life insurance that charges a level annual premium and provides a level, guaranteed death benefit to the insured’s age 100 and will endow for the face amount if the insured lives to age 100. limited-pay life is designed so that the premiums for coverage will be completely paid-up well before 100.

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If Tri-City defaulted, then the bank could go after thecash, though loan documents indicate that it could not seize anyhospital property or equipment. Only the first $250,000 of the account is insured.

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In a recent news example, a widow thought she was about to lose her home after making the mortgage payments for over ten years on her own. She was unaware that her late husband had taken out a special insurance policy that would pay off the bulk of the mortgage in the event of his death.

WASHINGTON – For more than a decade after her husband died, laura coleman biggs paid her mortgage to a Bank of America subsidiary. She was never told, even as she was weeks from losing her home, that her husband had actually protected her against foreclosure. George "Kenny" Mitchell had taken out a special lender-pushed insurance policy to pay off most of his loan if he died.

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How a Chicago Mom Liberated a Foreclosure and Got a Home for Her Four Kids ‘Empire’ to get 1 more season on Fox amid schedule shake-up As it moved to seize home, bank never told widow her loan was insured

Which deed is required if the owner of a property has expired, leaving no will, sister that lived w her has paid taxes since ind death. now wishes to put deed in her and her daughter’s name. owner of prop has one daughter, again left no will. owner’s sister took care of her, lived w her, lived in home & has paid prop taxes for 12 years.