mortgage repayment protection for a more secured mortgage loan

2007-03-08 10:33:40

( Financial )



THE PSYCHOLOGY OF INCURRING DEBT
Incurring debt is two-fold. A bad debt is incurred over consumer credit that does not increase your financial standing. Moreover, it has a debilitating effect on your over-all net worth.
A good debt is incurred after applying for a credit purchase that has appreciating value or has an effect of increasing your net-worth such as home equity or student loan repayment programs. A good debt is classified as high-priority debt because non-payment of this debt that has an appreciating value will result in a decrease in your over-all net worth.
MORTGAGE LOAN IS A HIGH-RISK DEBT
A high-risk debt is incurred over secured loans where you mortgage your property as collateral for a loan most common with student loan repayment programs where a family home or a property is mortgaged to cover educational fees.
Would it be wise to apply for a mortgage repayment protection to prevent non-payment of a good debt or a high-risk debt?
WHAT IS MORTGAGE REPAYMENT PROTECTION
In the event of a sickness your ability to generate an income for your monthly morgage repayment is compromised. Repayment of mortgages during emergencies becomes a burden and you might run the risk of losing your mortgaged property due to an emergency.
With mortgage repayment protection you have a secured morgage repayment so that in the event of your failure to cover repayment mortgages due to reasons covered in your policy your mortgage repayment is assured.
HOW DOES MORTGAGE REPAYMENT PROTECTION HELP ME
Because a morgage repayment of mortgage loan and a high-priority loan is critical, necessarily you have to ensure repayment of mortgage or you run the risk of losing your property over contingencies.
MORTAGE REPAYMENT CALCULATOR/DEBT REPAYMENT CALCULATOR
For a more manageable repayment of mortgage, mortgage repayment protection also offers you a debt repayment calculator. With mortage repayment calculator you will have better understood repayment schedule of your mortgage loan.
Mortgage repayment protection offers assurance of your monthly mortage repayments so you can attend to more pressing matters with peace of mind.


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