My wife and I recently purchased a house (about a year ago). We put
over 20% down so we do not have to pay PMI. Some big changes have
been occuring where I work which has me concerned about my job at this
time. Is there any kind of mortgage insurance where if I lose my job,
my payments will be covered until I find another one? If so, is it
worth getting or are they "scam" types that never really pay?

Mike wrote in message ...
My wife and I recently purchased a house (about a year ago). We put
over 20% down so we do not have to pay PMI. Some big changes have
been occuring where I work which has me concerned about my job at this
time. Is there any kind of mortgage insurance where if I lose my job,
my payments will be covered until I find another one? If so, is it
worth getting or are they "scam" types that never really pay?

In general, it is recommended that you have 3 to 6 months worth of an
"emergency" fund to tide you over any of these unforeseen circumstances. I
have not heard of insurance that pays out on job loss. Sounds like it would
be very expensive given the probability of filing a claim.

-al sung

Mike wrote in message . ..
My wife and I recently purchased a house (about a year ago). We put
over 20% down so we do not have to pay PMI. Some big changes have
been occuring where I work which has me concerned about my job at this
time. Is there any kind of mortgage insurance where if I lose my job,
my payments will be covered until I find another one? If so, is it
worth getting or are they "scam" types that never really pay?

Just google it using "mortgage payment insurance."