Mortgage Rescue Insurance?

Question

I just recently refinanced my home. My original mortgage was with Countrywide. They offer a service through Balboa insurance Co called Mortgage Rescue. What this does is pay your mortgage payment for you if you home is deemed temporarily unlivable due to fire, natural disaster, etc. My homeowners insurance pays to fix the house, they pay the mortgage while it's being fixed. Now that I've refinanced, my loan has been picked up by Chase and they don't offer this service. Balboa only offers it through countrywide. Does anyone know of another company that offers this same type of service. This is not a life ins. policy.

Thanks

Answer 1

Try to use google to find some related links or you could try to use answer engines like yahoo answer or answer.com to find some relevant questions.If you like some direct resource,here is a good one from my own experience.http://mortgage.specialistideas.info/hom...

Answer 2

Research Balboa and I'm sure you will find an affiliated business arrangement with countrywide--they are probably one in the same.

Another way for CW to make money off of you.

Answer 3

Few companies offer this anymore, and there's a reason why.

Most HO policies these days carry what is called "additional living expenses" or something similar. This will pay for any additional costs you incur while you are unable to live in your home due to a loss. Many companies give a dollar limit, others give a time limit of around 12 months with no dollar limit.

While you do still have to pay your mortgage each month, your extra expenses are handled, giving you no reason to need the mortgage coverage.

Answer 4

Hi,

I used "Credit Solution" to settle my loans.They managed to reduce my loans up to 58% .It's legitimate.I came across this company on NBC News Special Edition.Check it out here:

http://dwarfurl.com/809b1e