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Mortgage Payments

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Dadummy



Joined: 15 Nov 2007
Dadummy's page
Posts: 638



176 Magic Points
 
 Posted on Mon Dec 03, 2007 2:13 am  
good, did you make your goal, are you caught up? Hope so!
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2476



2725 Magic Points
 
 Posted on Tue Dec 04, 2007 2:53 am  
Will do it in the next two weeks, had a little set back, but will be back on track here in a week or two. So I am good to go.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
Mdeery
Guest
 
 Posted on Tue Mar 04, 2008 7:19 pm  
great to see your on your A Game
 
erb1953



Joined: 31 Dec 2007
erb1953's page
Posts: 549



1003 Magic Points
 
 Posted on Tue Mar 04, 2008 11:56 pm  
Good,
are you all caught up now? hope all is going the way that you plan. give us an update please.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2476



2725 Magic Points
 
 Posted on Mon Mar 10, 2008 2:27 pm  
Yes erb all caught up and good to go with my house payments, still have a few late fees but I am tacking them on with the payment and slowly getting rid of them. They will be done here in a few months. Thanks for asking and being supportive. Very Happy Very Happy Very Happy Very Happy Very Happy
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
scott

scott

Joined: 28 Jun 2006
scott's page
Posts: 163



4471 Magic Points
 
 Posted on Tue Mar 11, 2008 4:59 am  
Its good to hear that you are catching up on things slowly and steadily.

Has anybody heard of the mortgage protection insurance? It pays when you are out of work. For a maximum of one year this support system helps you.
The accident , sickness and unemployment insurance together known as Mortgage protection insurance helps to cope up with your period of unemployment . Any idea or views on this?
_________________
SCOTT

Social security, bank account, and credit card numbers aren't just data. In the wrong hands they can wipe out someone's life savings, wreck their credit and cause financial ruin.
 
Ism

Ism

Joined: 13 Feb 2008
Ism's page
Posts: 44



2506 Magic Points
 
 Posted on Tue Mar 11, 2008 1:11 pm  
It sounds like that credit card insurance - you pay so much for coverage, but the coverage, when it does kick in, just pays the minimum AND you can't access your credit line during that time.

From how I understand it, most people are late due to factors other than unemployment though - what if your car breaks down and you have to spend $1000 on a new transmission or something? You can't pay both, you have to choose, and the insurance won't help in that situation.

I personally think it's too limited to actually help most people.
 
Laura

Laura

Joined: 21 Jun 2007
Laura's page
Posts: 1409



34292 Magic Points
 
 Posted on Wed Mar 12, 2008 9:58 am  
Does anybody have such an insurance??
_________________
Regards,
Laura.
 
charles.armbruster

charles.armbruster

Joined: 14 Mar 2008
charlesarmbruster's page
Posts: 27
Location: Mesa, AZ


1355 Magic Points
 
 Posted on Sat Mar 15, 2008 5:26 am  
Nope, but it might make sense for a single homeowner.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2476



2725 Magic Points
 
 Posted on Sat Mar 15, 2008 12:56 pm  
I know this insurance exists had it on my mortgage before I refinanced, it is a good insurance to have and really does not cost that much, the lender I have now does not offer it. It is very similar to the credit card insurance that your have referenced, it pays if you are off work for any of the above listed reasons. Read the fine print on this insurance, it will not cover most seasonal layoffs and has some catches in place. With all policies, make sure that you read the contract thoroughly and understand what all the policy will and will not cover. For example, if you have your escrow in with your mortgage, it may only cover the loan part of the payment and not the escrow.

You are right Richard, it is a nice insurance to have and but it is equally important to know the coverage and what all is covered under, nothing like assuming you are covered to find out, that item is not listed.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
erb1953



Joined: 31 Dec 2007
erb1953's page
Posts: 549



1003 Magic Points
 
 Posted on Sun Mar 16, 2008 2:22 am  
taking out only what you need will stop unnecessary spending.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2476



2725 Magic Points
 
 Posted on Sun Mar 16, 2008 11:12 am  
True erb, we only took out enough to pay off the bills that we wanted to pay off, no extra spending money, we knew that we would be paying on this loan for the next 15 years, so we wanted to keep it down as much as possible. We have 10 years left now, time flies and we are finally hitting a bigger portion of our principle now.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 1857



8785 Magic Points
 
 Posted on Sat Apr 05, 2008 3:05 pm  
That is how we did it > We only took out what we needed. Things that seem important to buy now won't later when you are still paying back the money. We have mortgage insurance through our bank. It really doesn't cost much but there is a lolt of fine print. One of the biggest being you have to be unemployed for a certain period before it kicks in. I think it is like two weeks. It is good to have but even being laid off for that little period of time can drastically put a person behind.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2476



2725 Magic Points
 
 Posted on Mon Apr 07, 2008 12:09 am  
Smart that way you get all your bills out of the way, just keep plugging away. smart getting the mortgage insurance, you never know, that is awesome that you took that out to protect yourself in the future.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 1857



8785 Magic Points
 
 Posted on Mon Apr 07, 2008 7:06 pm  
I ahve had enough lessons to trach me to be insured...be very insured. I am continuing to plug away just seems like such a long road.
 
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