Losing your Home
While driving to work this morning, I was listening to an interview with a debt relief specialist on the radio. The specialist was taking calls from the listening audience and, naturally, most of the callers had horror stories about losing their homes, mostly due to the current mortgage crisis.
Many of the callers had purchased homes with no down payments and sub-prime mortgages and many had recent rate adjustments that put their payments out of reach. The callers that got my attention were several who were losing their homes due to the death of a working spouse. With one income in the family, it was now impossible to keep up with mortgage payments. When purchasing the homes, these couples calculated that both incomes would be needed in order to continue making the mortgage payments.
While saving people from the ticking time-bomb of sub-prime mortgages is the subject of many blogs, the solution to avoiding losing a home due to the death of a spouse can be stated in one sentence – if you purchase life insurance to at least pay off the mortgage in the case of an income-earners death, you can ensure that your family won’t lose their house.
With the cost of term life insurance at its lowest in history, it’s inexpensive enough to protect your family from compounding the loss of your life with the loss of their home. If you can’t afford the life insurance on top of your mortgage payment, your mortgage payments are too high.
Protecting your loved ones from losing their home is as simple as purchasing a term life insurance policy. If you don’t have life insurance, the Internet has made the process simple. Visit www.ifeinsure.com to learn about life insurance and purchase a policy today.
