Home for Sale in Groveport!
MSL Remarks "Fantastic newer build with all the upgrades! Vaulted ceilings, ceramic tile, wood windows, Jacuzzi tub, and large master with two closets add up to all the amenities you need to feel right at home. Extensive landscaping also gives this home great curb appeal. Don't miss this fine home!"

You may be able to assume the seller's mortgage liability when buying a house instead of having to apply for a new loan.

Assuming a loan could minimize your down payment or closing costs and get you a more advantageous interest rate. To know whether an assumption will work, find out the loan balance. If the balance is a small fraction of the purchase price, you will have to come up with a large down payment or get a second loan for the difference, unless the seller is willing to provide some of the financing. If the loan balance is high, the loan may have been made when interest rates were higher than they are today. Most newer loans that are assumable have adjustable rates. If you are considering an assumption because of credit problems, you will need the lender's approval to make the transaction work.

If you have a mortgage on your home in the West and North Columbus area, you have probably gotten several offers from insurance companies that sell coverage to pay off your mortgage if you die unexpectedly. Insurance is a good idea in most cases, however, mortgage insurance is usually a poor value.

If you read the large print, it looks like the policy will protect your family if you die before your mortgage is paid off. All you have to do is fill out the paperwork, have a physical exam, and pay a little more each month. The fine print, however, may limit the coverage to accidental death. If there are two people on the deed of trust, the policy may pay only half if one of them dies. If you are considering mortgage insurance, call a good insurance agent before you send in your forms. Insurance experts usually advise against separate policies to cover various contingencies. A regular term life insurance policy equal to the amount of your mortgage will probably offer you a lot more coverage for your money.