New InsuranceAgents.com article discusses how job loss insurance can help fight off foreclosure.
Chicago, IL (1888PressRelease) December 17, 2009 - In today’s housing and economic crisis, there are between 6,500 to 10,000 home foreclosures every single day. A great new way to prevent one’s home from being taken away is for a homeowner to add job loss insurance to their homeowners insurance policy, according to a recent article from InsuranceAgents.com, “How Your Homeowners Insurance Can Prevent Foreclosure.”
With more and more homes being foreclosed on every day, many homeowners are left wondering if they will be next, if their home could possibly be taken from them, too. Well, these days, it’s anyone’s guess. People who have been employed at the same job for years, even decades, have found themselves the victims of downsizing. And with the loss of income comes the inability to make mortgage payments. And the first missed mortgage payment is just the beginning of the end for many homeowners.
But adding job loss insurance to a homeinsurance policy can help a homeowner hold on to their home and keep a roof over their head while they continue to seek further employment. Job loss insurance is the insurance company’s guarantee that—should the homeowner involuntarily become unemployed—the insurer will pick up the mortgage payments (for a predetermined length of time).
Another way to save one’s home is to compare online homeowners insurance quotes. Too many homeowners don’t realize they are overpaying for their policies. By comparing home insurance quotes, they will be able to find a policy with better coverage at a lower rate. The saved money can be put towards their mortgage payments and help them keep their home.
“If you own a home then you probably realize the importance of homeowners insurance. It’s something you need anyways so why not optimize it to work in your favor? Job loss insurance and comparing quotes are just two ways to make sure your home stays yours,” according to the article.
The first step is contacting a local (and licensed!) homeowners insurance agent. They can help homeowners find other ways to save on their policies, and find ways to keep their home out of the cold clutches of foreclosure.