What is a MIG Policy?

greenspun.com : LUSENET : Repossession : One Thread

What is a MIG ? and how will I know if I had an MIG policy ?? Sorry for sounding so ignorant... but I have absolutly no paperwork from the repossession I thought it was all behind me I know nothing and I am trying to read through the whole site when ever I get the chance!

Regards Lisa

-- (lisa_foxy@yahoo.com), December 05, 2001


MORTGAGE INDEMNITY GUARANTEE. Thats what it is! In other words its a worthless insurance that the building society make YOU pay for, to cover THEM for mortgage shortfall in the event they may have to repossess your house.THEY do not let YOU see acopy of it. And they will NOT show how much they have claimed on it. In fact they will probably say you never took a MIG out in the first place. Hope this helps,

Good luck, Daren

-- Daren Otsay (darenotsay@blueyonder.co.uk), December 05, 2001.

Moderation questions? read the FAQ