Will my insurance pay off my home?
My husband died Sunday night. We have a fha loan through state home mortgage in Ga. We aso have met life I have been told my house should be paid off but I cant get a straight answer out of either of them?"
- AnonymousLv 78 years agoFavorite Answer
FHA is a loan type, it's not going to "pay off your home". If he had life insurance, you file the claim - whoever gets the money, can do whatever they want with it. Odds are, if they refuse to talk to you about it, it's because you're not the beneficiary on the policy.
- PalLv 78 years ago
Read your policy, young people often opt out of the mortgage insurance that would pay it off if one of them died. Your home owners insurance is not that kind of insurance nor is life insurance designed for that purpose though you could elect to spend it to pay off or pay down the mortgage.
- Venita PeytonLv 68 years ago
Insurance will only pay off your home if your husband had designated them as the beneficiary.