Question by ryan: does fha mortgage insurance cover your mortgage if you cant make a payment?
i just lost my job and i was wondering if fha mortgage insurance would pay my mortgage for a period of time like the Rainy day fund does for private lenders who are enrolled in the program
Best answer:
Answer by jlf
No. It insures the lender against the borrower defaulting on the loan. It does nothing to benefit the borrower.
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