What if i get sick, cant work, then cant pay my mortgage?

Question

What if i get sick, cant work, then cant pay my mortgage?

Answer 1

That is a risk almost everyone faces.

Answer 2

then you are foreclosed on and loose your home you might want to sell to retain your equity im guessing you dont have proper insurance

Answer 3

Well, if you don't have disability insurance, you will eventually go into foreclosure and lose your home.  Typically, foreclosure takes about 4 to 5 months to complete if the mortgage company follows the law.  I have seen foreclosures take up to a year or longer.

I would suggest that you start by purchasing disability insurance and start a savings account specifically for that rainy day when you do become sick or worse, lose your job.

Answer 4

If you are smart you will tell your bank (etc) and work something out.  If you don't eventually they will foreclose your house and you will be on the street!!!

Answer 5

Your house gets foreclosed like everybody else. When you have a mortgage you either pay it or you lose the house...its as simple as that. Nobody gives a d**n if you are sick they will still take your house. That's the harsh reality of this life.

Answer 6

AFLAC!!!!!

Answer 7

You will lose your house and and become a burden on society.  Try not to get sick like that.

Answer 8

Then I hope that you have purchased disability insurance or else you will lose your home.

Answer 9

SOL?

No, really.  You should maintain several months padding in your savings account; 3-6 months.

Disability insurance

Hospital Indemnity Insurance Policy

Sick and vacation days

Working even when you don't feel good

Answer 10

have u got loan insurance that covers sickness