FAQ: Can Having Homeowner’s Insurance Stop Foreclosure?

Here is an excerpt from a new blog post at GreggMarcus.com:

With an economic crisis running rampant across the country, those who have failed to make their mortgage payments in a timely manner and have had their home foreclosed on are left wondering where they went wrong. In this post, Gregg S. Marcus, a Long Island Insurance Executive explains how having homeowner’s insurance could have saved their home from foreclosure.

Believe it or not, an expense like homeowner’s insurance can actually help with your mortgage expenses. So how exactly can you utilize your insurance to prevent your home from being foreclosed on? Many different ways:

Job Loss Insurance
Often added on as a rider to a standard homeowner’s insurance policy, job loss insurance is purchased while still employed. Once covered, this will pay for part or your entire mortgage payment should you be unemployed for a number of reasons.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.

Advertisements