A new breed of insurance is emerging from the current unemployment crisis. Some mortgage lenders, home-builders and even realty companies are offering various forms of “job loss mortgage insurance.”
Although not offered across the board, some real estate companies incorporate a “Worry Free Mortgage Protection,” that can be offered by home sellers. Genworth offers a similar protection package at no charge to buyers who purchase their mortgage insurance. Other organizations provide grants; for example, The Rainy Day Foundation assists home owners during their first 24 months after purchase if their lender or real estate agent has partnered with them. They can also offer tips for financial survival should a crisis occur.
Not everyone qualifies for these protection packages – and make sure you understand all terms and conditions of these policies. To learn more about these options, and to find the Bennington, Vermont home of your dreams, contact Troy Richardson at RE/MAX Maple Leaf Realty!