How does mortgage reduction request affect my MRTA policy?
After you have fully settled your shorten mortgage term, you can write in to your MRTA insurance company for a refund. For example, a original MRTA policy which covers a 30-year term, the policy holder can claim refund for a 17-year coverage if his/her loan has fully settled in 13 years (shorten by 17 years through mortgage reduction service).
Does mortgage reduction service involves change of existing housing loan package?
No. Mortgage reduction service does not involve any changes on housing loan package of a loan borrower.
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