Determining if you need to update your policy after refinancing
When you complete a refinance, your original home loan is effectively paid off and replaced with a brand-new loan that often features a different principal balance, a new interest rate, and a reset amortization schedule. Because mortgage protection insurance is designed to align specifically with the debt structure of your home loan, this financial restructuring almost always requires a close review of your coverage to determine if an update is necessary.
If your primary goal during refinancing was to