Secrets Your Mortgage Broker Will Not Tell You

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Mortgage Protection Insurance In Case You Lose Your Job

Source: http://mortgagesafe.org

Yes, there is another secret that your broker most likely would have failed to mention. Some insurance policies will cover your mortgage payments if you become unemployed. This means you don’t have to worry about your monthly mortgage payments. Normally you have 6 months to get employed again as the coverage will only protect you for that long. It should be a short-term solution so you have time to get back on your feet without stressing about monthly payments. Best to inquire if your insurance policy will have this feature. Always look to protect yourself should you need to. Expect to pay higher premiums with an insurance policy that has this protection. But it will be worth it should you need it.