Disability Insurance: November 2007 Archives
US Banks & Financial Institutions continue to take write-downs and report lower earnings due to the "Mortgage Mess". Predictions of more write-downs in this area follow predictions of more mortgage foreclosures.
Here's the question: If the mortgage servicers and the banks know that more problems are on the horizon, why aren't they more proactive in trying to help mitigate future losses by simple risk management?
Mortgage companies know that loss of income is the largest cause of loan delinquencies and foreclosures. Loss of income is generally caused by job loss and disability. Their customers (borrowers) who are already facing increased mortgage payments when their adjustable rate mortgages increase would really be financially disabled if they were suddenly unemployed.
Here's a possible solution: Job Loss Insurance / Disbility Mortgage Insurance - The Mortgage Safety Plan.
We're beginning to see interest from several smart mortgage servicing companies. They have wisely decided that they can offer this plan to their customers who really want this unique coverage. The bank is helping themselves and their customers. They both get another layer of protection.
John Hartline
800-562-8019
Here's the question: If the mortgage servicers and the banks know that more problems are on the horizon, why aren't they more proactive in trying to help mitigate future losses by simple risk management?
Mortgage companies know that loss of income is the largest cause of loan delinquencies and foreclosures. Loss of income is generally caused by job loss and disability. Their customers (borrowers) who are already facing increased mortgage payments when their adjustable rate mortgages increase would really be financially disabled if they were suddenly unemployed.
Here's a possible solution: Job Loss Insurance / Disbility Mortgage Insurance - The Mortgage Safety Plan.
We're beginning to see interest from several smart mortgage servicing companies. They have wisely decided that they can offer this plan to their customers who really want this unique coverage. The bank is helping themselves and their customers. They both get another layer of protection.
John Hartline
800-562-8019
