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Recession-proof mortgage? Lender will pay if you lose job

UPDATED WITH VIDEO: The deal is simple: If you loan or refinance with State Mortgage and lose your job within two years, the company will cover six months of payments.

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razorback96 - 3/7/2009 7:35 AM
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The clients are put into the program at closing. Part of the program is an insurance policy and the education portion is through a non profit organzation out of washington. The rates are current market rates based on FHA or Conventional financing. May sound to good to be true but call to get more details. The insurance premium for the two years and education services are paid by the mortgage company.
StayathomeMom - 3/6/2009 6:18 PM
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"It's Free"? Who's paying the mortgage for 6 months, the taxpayers or is the interest rate 19%? this story doesn't make sense.


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