More than half of foreclosures happen when a primary earner dies or becomes permanently disabled, according to HUD data. The video explains how sudden income loss forces families out of their homes and communities, and why mortgage protection insurance matters for homeowners in their 30s to 50s.
Chapters
According to the Department of Housing and Urban Development, more than half of all home foreclosures are the result of either the death or the disability of the homeowner. Because every year, thousands of homeowners in their 30s, 40s, and 50s are critically injured in an accident or diagnosed with an illness or disease like cancer that either results in their death or results in their permanent disability, which keeps them from working and earning an income. And without their regular monthly income, many of these families are forced to move out of their homes and away from their friends and neighbors, schools and communities. Of course, no one wants to think about losing their home, much less about their own death or disability. But those are the facts. We are all at risk, every one of us, for an untimely death or a permanent disability from a critical injury or serious illness that results in the loss of our monthly income. Even households with two incomes quickly discover that they can no—