07/16/2021
First, let me say that I am not qualified to give legal or financial advice, so do not take the following as such. However, in the course of my work, I have made an observation that I'd like to share with you.
I have come across many families who have lost their homes at mortgage foreclosure auctions because one income earner has died and the surviving partner is not able to afford to meet the mortgage payments. One tragedy leads to another.
One way to address this problem is to ensure that anyone involved with paying for the property is carrying sufficient life insurance to pay off the mortgage amount, should that person die.
I would recommend if you have a mortgage or plan to take one, that you speak with an insurance provider to determine the best way to insure yourself so that your family does not lose their home in the event of your untimely passing.
Just something to think about.