You must make sure when telling the agent at the bank that is doing your deal that you do not want to pay multiple CMHC fees. If they over look thsi it will costs you thousands. If done correctly, you will only pay CMHC fees on the difference between the new and current mortgage being PORTED.

When you buy a house the banks will want to sell you on the idea of mortgage insurance against death or disability. The insurance is usually optional. You can get a private insurance as well. One company is MPP insurance, they are the better option, ask your Broker for more info.

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My wife has been diagnosed with cervical cancer for which she needs to be operated on. historectomy. we have critical illness insurance on our mortgage and wonder if theis is covered?

We have that on our mortgage and this certainly sounds like it to me. If I qualified, she should. I had a bi-lateral mastectomy. Read the policy or ask someone knowledgeable on these things. I asked my sister who is an insurance agent. If cervical cancer doesn't qualify, then I can't imagine what they would consider "critical illness" Good luck and I pray your wife does well.

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We had to renew our policy for our mortgage and we had always had it where if one of us had a life threatening illness our mortgage would be paid of , we have just found out that my husband has cancer and when we checked out policy we realized the mortgage broker had changed out policy where we wasn't fully covered , we had told the mortgage broker when renewing our policy that is what we wanted , is there anything we can do ?

you're responsible to read what you sign.

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Shortly after purchasing disability ins. i was diagnosed with testicular and lymphatic cancer that was very aggressive. while in chemotherapy i contacted the insurance co. to claim. i was totally involved in staying alive long enough to beat this cancer and was obviously seriously unable to keep track of finances and such. my wife did not realize this was one of the few things we had any coverage for and therefor did not deal with it. it has been almost two years and i just recently realized we had not recieved any benifits from this insurance during my year long fight with cancer. what can i do to get them to pay? the insurance was purchased with the mortgage and i thought that even though the claim is made that the insurance is a seperate issue the mortgage company is the legal servicer of all matters on the mortgage, such as ins. taxes if there is an escrow acct. etc.?

You have to file a claim in writing - everything needs to be in writing - and they are legally obligated to notify you in writing why they think they don't have to pay you. Then you go to their adjuster and start negotiating with them - they know they have to pay, but they always says no the first 3 times, because many give up. Once they've agreed to pay, see if there is a pain and suffering clause, then you want to have a lawyer and a tax accountant help (pain and suffering is non taxable, but has to be paid in a certain way) to negotiate.

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My question is will i be able to get a mortgage with good rates with the scores i have now? i am 23 and my credit scores are: 582 trans union, 552 experian, and 545 equifax. i have a number of medical bills that went to collection while i was in colllege. i have been paying those medical bills back a little at a time (i have a payment plan with the collection agency). and have two 30 days late (almost a year ago) on my car loan, and a 60 days late on a student loan. i recently applied for a new secured credit card (which i hope to receive any day) and have been listed as an authorized user on my cousin's credit card. my cousin has had her credit card for 2 yeas and has never been late. i am currently working with a law firm that has actually gotten 6 items deleted from the three reports. so, my scores are a little better than they were. i just feel that it is not right to be punished for getting sick (i had cancer) and not having insurance. my current scores are 559 transunion, 618 experian, and 557 equifax. the reason the experian score is so much higher is that a new revolving account (my cousin's credit card) has reflected on that report. i am expecting the credit card to reflect on the other reports soon. if the other scores jump anything like the experian score, i expect the others to be around 610.

Unfortunately, due to the recent mortgage crisis, anyone with less than a 660 is going to have a hard time getting a mortgage of any kind. There are plenty of people in your shoes though, who have had a crisis to two. My advice is to talk to a mortgage broker who may be able to work with a company that will accept your reasons for having a low credit score. Illness is the number 1 cause of bankruptcies in this country, so you are not alone in your problem.

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Hello everyone. my step mother was diagnosed with breast cancer at age 29. she just turned 34 on the 1st of this month. since her initial diagnosis, she has undergone a mastectomy and had her ovaries removed, because the cancer had spread. about a year and a half ago, doctors discovered a large inoperable and malignant tumor on her brain. she is in stage 4 and a little over one year ago- doctors told her she only had one year to live. my father passed away 4 years ago. she cares for my 8 and 6 year old baby sisters alone. my 6 year old sister, autumn, almost died when she was 3 months old- she has hydrocephalus and has endured 3 surgeries to place and correct plastic shunts that go from the base of her skull down into her stomach. my step mothers family is incredibly broken and has not shown any concern or interest in her or my sisters from the beginning. my own birth mother has stepped in to help because the situation is soo desperate. well, like i mentioned before- we have just passed the one year mark the doctors gave her. she has not gotten any better, but her condition has in no way gotten any worse. the tumor has dulled her ability to hear and sometimes causes migraines along with a slew of other sporadic symptoms. even still she is determined to spend as much time as possible with my sisters... because if she passes there is a very good chance that they will be put in the system. might i add that i am 21 and have 3 children of my own, a mortgage, a car note, etc- i don't know if a judge would grant my custody, but i would still try my hardest. anyways, my step mom has been on medicaid because she can't work. for the past couple months they have spontaneously cut her coverage off without warning and at times without any clear reason. social security has cut her back as well... for "insurance purposes". i am well aware of the economic state of our country, and i've heard someone say that it doesn't make sense to "waste money" on an "unsolvable problem". i am hoping that some of you can relate and will be able to give me some advice on where to turn or who to talk too about this unprofessional and inconsiderate display of disregard we've experienced. last night simone, my step mother, stayed up all night and cried... my sisters have never seen her cry before. please let me know if you have any idea of what options are available or how we should proceed. thanks for taking the time to read this and thanks again to anyone that can relate.

Not sure if maybe you've misunderstood something here.. Medicaid doesn't randomly stop or cut coverage.. Social security, don't know if you meant disability, ssi or what, but unless you are working, making over $6000 a year, that's not cut. When a cancer has mets to the brain, radiation is normally given, then chemo for whatever cancer is primary, so that makes no sense the drs wouldn't do anything. I can't imagine any dr giving a time frame to die unless it's a matter of days or weeks... America does not cut treatments on an "unsolvable" problem, nor is it ever considered a waste of money... Now, I don't know what country you are referring to... Children are not put into the system, unless all family members are unfit to parent them or they have no family to take care of them. Thumbs down all you want. I know from experience. And this question is about the healthcare system in america, not socialized medicine where they sometimes base your age and cost of treatments on whether or not they will treat you.

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If you are diagnosed with cancer and have no health insurance, what are your options? unemployed ... own house (with no value ... mortgage is underwater). i live in detroit and have been unable to obtain employment for more than a year now ... and the real estate market is so bad that many are just walking away from their mortgages ... so selling the house is not an option. not eligible for medicaid health insurance from the state due to asset levels (the house). besides the fact of not being eligible for most all health insurance due to "pre existing conditions" clauses ... what options do i have? please do not say "kill myself". i've already received that response elsewhere online.

Your finances have everything to do with Medicaid, but you have no equity. If you have been diagnosed with cancer the social worker at the hospital should be able to help, but hospitals can and will turn away people who cannot pay unless it is an emergency situation. Every hospital does have a charity program.

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I am unemployed, so i can't help my mom on the mortgage payments. we lost my dad to cancer a year ago and so my mom's own income, under 2k a month, is all she has to pay the house. soon the life insurance will dry up and then we won't have anything. i know that there are processes and ways to handle this, since the monthly payment is only 1100 a month. what can my mom and i do, or what should we try?

First thought would be to see if she can refinance - talk to the current lender and also some other lender. If long term she just can't afford the house, she should look into selling it.

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Say u have mortgage, u get cancer or something and loose employment, what happens ? ... u cant pay off your mortgage anymore and bank is knocking at your door?

If you want coverage for your mortgage, don't you want coverage to pay the electric bill, too? Or how about groceries? Or putting gas in the car?? I don't like loan insurance policies, because the ONLY person who really benefits is the lender. If you WANT disabiltiy coverage, buy disability coverage - it will help pay ALL your bills, not just one.

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I recently applied for a mortgage and was turned down because i needed default mortgage insurance and when the bank applied for it, i was not approved(i had less than 20% down payment). said bank only uses cmhc as a source for the default insurance. i managed to get enough, through a gift from a family member for a 20% down payment and so i went to a mortgage broker. first lender turned me down. second lender still wanted deafult insurance which the broker again tried cmhc and was denied without a co-signer. he is trying lender number #3 with a different company for the insurance. five years ago, i declared bankruptcy when i had breast cancer and couldn't pay my bills. three years ago i was discharged and have had loans that were paid perfectly since then. the broker said my credit score was 674 but i am thinking he may have made a mistake because otherwise, i wouldn't be getting turned down. what's the chances of going back to the bank with my 20% and getting approved?

I don't know, but I had a discharged bankrupt woman get approved for a mortgage, so it is possible. What are the lenders worried about? Would your debt to income ratio be too high? Are the carrying costs too much (including some heat and taxes)? Have your mortgage broker provide more information as to the reasons - then you can more likely find a way to remedy them.