Protect Your Biggest Investment: Your Home

Protect Your Biggest Investment: Your Home

Many people in Roseville, CA have homes, live in them, and call themselves homeowners, but technically, that’s not correct. While it’s true that most homeowners are not paying rent, the majority of people have debt on that home and are currently paying it off in the form of a mortgage. Over half of the houses in the USA are still under a mortgage, and that’s a good thing. It means people who couldn’t otherwise afford to pay for the total cost of a home are getting the opportunity to do so over a period of time.

However, homeowners in Roseville, CA, have to be careful. Just getting a mortgage doesn’t mean people are free and clear. There’s a responsibility to ensure those payments are made every month, so that one day, the home will be “free and clear,” and the homeowner will truly own that residence. Recent events like the COVID-19 virus have upset this delicate balance as some have lost their jobs, jeopardizing their ability to make payments, but there is some help for some mortgage situations in the form of insurance.

The Problem

Mortgage payments rely on stability. They are typically set with payment terms that last one or more decades. All of this is contingent on the idea that mortgage applicants met specific financial criteria. The most important is holding down a job that pays a certain amount annually to justify the ability to meet mortgage payment requirements every month.

Unfortunately, things can happen. A person may get into a car accident or even a mishap at work that causes a severe enough injury that work may be temporarily impossible for a long time. In some cases, the damage may also be permanent. In the worst-case scenarios, disease or some other even may result in death, and now a family is no longer able to continue mortgage payments.

A Helping Hand

Mortgage protection life insurance is a specific form of financial protection. It is not a form of unemployment insurance and so cannot be used in the event of a layoff, furlough, or other job termination. However, if someone becomes disabled or passes away, endangering a family’s ability to remain in the home, this is when it comes into play.

Mortgage protection life insurance is designed with partial or full payment of monthly mortgage demands. It’s just one more way to ensure there’s a bit of peace of mind for a household if there’s a sudden threat to financial stability.

Looking At Options

It should come as no surprise that comprehensive financial protection is not always going to be simple. Residents of Roseville, CA looking into this insurance may find the process complex, with a lot of details and requisites that need to be met. One of the best times to go looking for mortgage insurance is as a mortgage is being applied for.

However, even with an existing mortgage already underway, you may still have options for protection, and we can help with that. Contact, and let us know what your current mortgage situation is. We may be able to find the mortgage insurance that protects you, your family, and your homeownership.


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