Over two-thirds of loan delinquencies and home foreclosures are caused by Loss of Income due to disability and job loss.  Most people with mortgages are approached to "protect their family & home" by buying term life insurance.

There is nothing wrong with owning a life insurance policy.  Everyone should have some individual life insurance, term or permanent, in force.

But death is not the primary cause of loan delinquencies:  Loss of Income is the primary culprit.  Only 3% of loan delinquencies and home foreclosures are caused by death of the primary borrower.

Disability Insurance is underwritten differently than life insurance.  Chances are greater that you'll be disabled than if you'll die.  Chances are even greater that you'll become involuntarily unemployed.

The Mortgage Safety Plan was designed to provide cash payment benefits if and when you are disabled or unemployed.  The unemployment & disability benefits provided by the plan are Guaranteed Acceptance.  There are No Health Questions, No Medical Exams.  Price is the same for all ages, Male or Female and prices are based on the monthly benefit you choose.

If you are concerned that a disability or unexpected job loss could affect your income stream so that you could not meet your monthly bill payment obligations, visit this website:  www.mortgagesafetyplan.com

John Hartline
800-562-8019

There's more and more talk now about the economy.  Words like 'recession' and 'job losses' are popping up more and more in the news.  Of course, these discussions usually do come up near the end of the calendar year, but recent oil price increases, massive layoffs in the financial services industry and in the housing industry do have economists alarmed.

How would you make your mortgage payment if your salary suddenly stopped because you couldn't work?  What if your job was suddenly in jeopardy?

A solid mortgage protection plan that includes mortgage unemployment insurance is inexpensive.  Recently introduced in the US, and now available in 25 states, Mortgage Unemployment Insurance pays you cash benefits for up to 6 months if you become unemployed.  Up to $2000 per month would go a long way towards helping you meet your monthly expenses should you lose your job.

Enrollment is done entirely via a secure internet portal; price is based on the monthly benefit amount you choose and is the same for all ages, male or female.
It is an election year, and for the first time in many years neither the sitting President nor Vice-President is seeking re-election.  Many say this could lead to less federal intervention into the economy, leading to further weakness.

67% of all loan delinquencies and home foreclosures are caused by loss of income due to unemployment or disability.  The average length of unemployment is 16 weeks.  Could you make your monthly mortgage payment for nearly 4 months if you lost your job?  Mortgage Protection including mortgage unemployment insurance might be worth considering.

John Hartline
800-562-8019

The Hope Now Alliance program is set up now to help those with subprime mortgages which are set to escalate in cost in 2008.  Hope Now will offer counseling to people with subprime ARM mortgages.  Borrowers who have made their payments on time will be given 'interest rate freezes' on their mortgages for the next 5 to 7 years.

Many say this is a free bail-out for people who never should have gotten the ARM mortgage to begin with.  Others say if something isn't done, the country will be pushed into a recession sooner-rather-than-later.

Those borrowers who are given this reprieve should not only be thankful, they should now take time to seriously consider further insulating themselves from 'life events' which would cause them financial ruin.  Involuntary Unemployment Insurance is now available, is inexpensive, and would provide cushion for something the Hope Now Alliance cannot protect them from:  Unexpected Job Loss, Unemployment, Disability.  The industry might be able to guarantee that the interest rate on their loan will be frozen at it's current level....but neither the Hope Now Program nor the US Government can guarantee that these borrowers will have jobs, and be healthy enough to continue working because of a disability. 

An ounce of prevention is worth a pound of cure, the old saying goes.  A visit to www.salaryprotector.com to check out the Mortgage Safety Plan's (www.mortgagesafetyplan.com) benefits would be a wise move for everyone involved.

John Hartline
800-562-8019

The government is working almost round-the-clock with major mortgage lenders to put in place a plan that would "freeze" interest rates on millions of ARM mortgages which are set to cause large mortgage payment increases in early 2008.  One 'sticking point' seems to remain:  how long the freeze will last..3, 4, or 5 years.  The mortgage servicing companies, major lenders, and the bond investors would rather have a lower yield on their investment than massive foreclosures.  Was it Mark Twain who said "I'm more concerned with Return of My Investment than Return On Investment"? 

Many are arguing that that the borrowers are at fault here and were fiscally irresponsible by entering into a mortgage contract, knowing their payments would increase; many argue that it was predatory lending; many say the home builders were at fault for this mess.  I think there's enough blame to go around to everyone.  I spent about 15 years in an industry which sold to auto dealers...to their finance departments.  I know when the auto lenders were aggressively seeking new business, they would relax their credit standards from time to time.  The dealers loved it when the lenders did this:  People will buy more of anything if they can get it on favorable credit terms.

I think this proposed Subprime Loan Plan will help mitigate problems...but I also think that the borrowers who are given this "gift"...this "reprieve"...should now show some fiscal responsibility by investigating purchasing inexpensive mortgage unemployment insurance.  Our new plan, the Mortgage Safety Plan, pays cash benefits to insureds when they are unemployed or disabled.

If borrowers are having budgetary problems now, living paycheck-to-paycheck, they would certainly be financially disabled if they lost their job.  Who would make the mortgage payment...even if it is 'frozen' at current amounts?  This proposed plan would help but it might not help enough to offset the predicted overall economic slowdown.  If the slowdown comes to pass, unemployment rates will go up.

An ounce of prevention is worth a pound of cure.  Mortgage Safety Plan is designed to lend a helping hand when bad things happen to good people.  'Lose Your Job...Keep Your Home'

John Hartline
800-562-8019

www.mortgagesafetyplan.com