MORTGAGE PROTECTION PLAN
When you purchase a home using a mortgage, the mortgage lender will require mortgage insurance; but this is a type of insurance that protects the mortgage lender in case they have to foreclose on the home due to non-payment of the mortgage. This does not protect you, the mortgage borrower; it only protects the mortgage lender. If the mortgage payer should die during the mortgage repayment period (usually 15 to 30 years), the lender will foreclose on the home if there are no funds to continue the repayment of the mortgage.
A Mortgage Protection Plan is not mandatory for the purchase of a home. However, it is powerful insurance that allows you to ensure that your loved ones will be able to maintain their lifestyle should they have to be without your participating income due to your death. A Mortgage Protection Plan allows you to sleep at night. It is just simply a very smart component that homeowners should have in their (wealth-building) financial portfolio. If you plan to purchase a home, or if you are already paying a mortgage for your home, you should strongly consider getting a Mortgage Protection Plan. It is an extremely important strategy to help preserve your wealth and pass it on to your loved ones in case of your death.
A Mortgage Protection Plan allows you to leave an immediate inheritance to those you care about; it allows your loved ones to pay off the mortgage and not have to worry about losing the home in case of a tragedy such as the death of the mortgage payer. It can even be expanded to cover other current debts, such as a car note or even be combined with a Final Expense Plan to ensure that your funeral debts will be satisfied. Furthermore, a Mortgage Protection Plan can even allow for emergency funds to take care of the medical, hospital, and living expenses should you become disabled. The F.R.E.D Network, consisting of licensed insurance professionals, is dedicated to helping people get the most affordable protection with the greatest features and coverage possible.
In many cases, we must advocate on behalf of borrowers who have chronic illnesses, such as diabetes, C.O.P.D, or cancer. Through our national independent marketing organization affiliation, we have access to over 40 insurance carriers. Depending on the progression of an applicant's disease, we can usually find a top-rated insurance carrier to provide a quality Mortgage Protection Plan in spite of an applicant's chronic illness. However, as with any type of insurance policy, the older you are and the poorer your health is, the more expensive your protection plan can be. Don't wait until it's too late. Get a Mortgage Protection Plan as soon as you purchase your home.
If you are buying a home and you do not already have a mortgage lender, members of the F.R.E.D Network can get you a pre-approval for an affordable mortgage and also provide you with the opportunity to purchase a Mortgage Protection Plan so that you and your loved ones are protected as soon as the first day you move into your new home.
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If you plan to purchase a home, you should strongly consider getting a Mortgage Protection Planning.
Consider this, if you purchase a home or currently already own a home, what would happen if the mortgage payer dies or becomes disabled and no longer can generate an income? Would the home go into foreclosure because the mortgage could no longer be paid? Would the remaining loved ones have to lower the quality of their lifestyle? Would they be left with the indignity of having nowhere to live?
A Mortgage Protection Plan alleviates your worries and allows you to sleep at night. It will protect your mortgage; it will protect your loved ones