Affordable

New Safety Net for Unemployed Homeowners

New Safety Net for Unemployed Homeowners

Car dealerships everywhere are blaring the incentive of payment protection plans, offering to cover car payments up to an amount for a certain period of time, should a borrower lose his job.

First Mortgage Company has launched a similar initiative on April 28, 2009.

The company will pay homeowners’ monthly loan payments for up to six months if the homeowner becomes unemployed within the first two years of the loan.

The program, Job Loss Payment Protection, covers payments of up to $1,800 per month, if one of the signers on the loan loses his or her job.

“Home prices are affordable, interest rates are the lowest they’ve been in decades, and first-time buyers get an $8,000 tax credit,” says George Akers, executive vice president of First Mortgage Company. Akers says the only reason people may not buy now is fear of losing their jobs — although, most industry insiders say fear of unemployment, albeit an overwhelming concern, is just one cause of hesitation for potential homebuyers in the current economy.

Nonetheless, Job Loss Payment Protection offers a safety net for those whose main drawback to homeownership is the fear of job loss.

The program is available to all new First Mortgage Company customers applying for FHA, VA, and USDA loans. The program covers the monthly loan principal, interest, taxes, and insurance. First Mortgage said it hopes the program serves as a tool for Realtors and builders to help sellers provide added value to their home and buyers feel more secure in their decision to purchase a home.

Job Loss Payment Protection is available at all locations in  greater Colorado Springs, Colorado; Boise, Idaho; Omaha, Nebraska; Tulsa and Oklahoma City, Oklahoma; Amarillo, Dallas-Fort Worth and Eagle Pass, Texas; and Puyallup, Washington.

FOR MORE DETAILS CALL ME TODAY!!!

hjobe@firstmortgageco.com 

918-496-2241 x230

Jim Bigelow    Bigelow Group  Realtors  918-640-4657

www.jimbigelow.com                jim@jimbigelow.com

Coldwell Banker Select

 

 

 

Affordable

Economy Squeezing Your Insurance Budget? Think Term Life

Economy Squeezing Your Insurance Budget? Think Term Life

(ARA) – It’s an economy-driven dilemma: In these shaky financial times, you know it’s more important than ever to protect your family’s solvency with life insurance. But these days, you don’t have a lot of money to spend on monthly premiums.

Term life may be the solution. Term life insurance can provide you with the coverage you need to protect your family until the economy improves – and at a cost you can afford. Wondering if term life fits into your lean-times budget? Consider this:

* Monthly premiums for term life are generally far less than premiums for whole life policies. This makes term life much more affordable for people on a tight budget.

* You can choose how long you’ll keep the policy and how much the coverage amount will be. This means you pay for coverage only for as long as you believe you’ll really need it – until a dependant child finishes college, or retirement gives you access to 401(k) funds, or the economy improves and the financial threat to your family decreases.

* Some companies offer virtually “instant” approval and immediate coverage, versus the sometimes weeks-long application process for a whole life policy.

* While with traditional term life you won’t get any money back if you don’t die before the term ends, many companies now offer term policies that do have a cash value (for a slightly higher premium). And most will allow you to convert your term policy to a “permanent” one under certain circumstances, meaning a portion of your premium after conversion will go towards building cash value with interest.

* Your beneficiaries won’t be taxed on the proceeds from your term life policy.

* Term life is a great way to supplement existing policies that are now inadequate due to inflation, such as an employer-sponsored life plan or an older whole life policy.

* The money you save in premium costs for term life can be put to better use elsewhere – such as investing in your retirement, your child’s college fund or in improving your home.

The easiest way to comparison shop for term life insurance is to go online to a site like www.InsWeb.com. You’ll need to complete a detailed quote form, but at the end of the process you’ll receive multiple quotes from agents in your area, as well as major insurance carriers – usually within 24 hours of completing the form.

Copyright © 2008, ARAnet, Inc.

Jim Bigelow    918-640-4657

www.jimbigelow.com                jim@jimbigelow.com

Coldwell Banker Select

Affordable

FAMILY

The following is a page from my website Titled FAMILY. if you would like to see more pages like this or finish any of the articles please visit www.jimbigelow.com

FAMILY

 

 

 

How to Save on Life Insurance in a Bad Economy The economy is taking a toll on everyone’s pocketbook. With groceries, healthcare, bills and more on your list of things to pay for, life insurance is usually the last thing on your mind. But life insurance is important and there are ways to save money to make sure that peace of mind fits into your shrinking budget. More How Health Savings Accounts Work A month ago, Jenny Thomas checked into her local hospital to deliver her first child. Unanticipated complications necessitated an emergency surgery. Fortunately both she and the baby were fine. But if it hadn’t been for her family’s health savings account (HSA), she could have ended up owing the hospital tens of thousands of dollars. More Affordable Health Insurance Protects Families With the increasing cost of medical care, having health insurance is crucial. Now there is an affordable way to get the coverage you need. More New GI Bill Can Help You Earn a College Degree Your father and grandfather may have used the GI Bill to pay for the college education that ultimately helped them provide for their families. You can too, thanks to a new GI Bill that provides the most comprehensive education benefits package since the original legislation was signed into law 64 years ago. More Get Peace of Mind, Get Life Insurance Life can be unpredictable. As you plan for the future, it’s a good idea to have all your financial bases covered. One thing that can provide some peace of mind: a life insurance policy. More Do You Qualify for Tuition Reimbursement? Looking to finish a degree or seeking a new one to advance your career? If you are, you’re probably wondering how you’ll pay for your education. You may be surprised to find out you could qualify for financial aid, in the form of tuition reimbursement from your employer. More Super-charge Curb Appeal with New Windows Replacing your home’s old, drafty windows has long been one of the most popular ways to improve your home. After all, windows have a shelf life just like any other product. After years of being exposed to the elements on the exterior of your home, it’s just a matter of time before they start to degrade in appearance, quality and efficiency. More Relax and Enjoy Your New Sunroom Building a sunroom is one of the more exciting projects of home improvement. More Checking Your Credit Could Increase Your Score There are a lot of numbers that are important in life, but none quite as influential as your credit score. Having a high credit rating can give you better interest rates on credit cards, car loans and even your mortgage. On the opposite side, a poor credit rating can make many aspects of living difficult. It’s important to check your credit score to learn where you stand. Here’s how. More Is Whole Life a Good Investment? Good investments are hard to come by right now. You may have heard permanent life insurance – also known as whole life or universal – mentioned as a good investment option. It’s important, however, to know the pros and cons of permanent life insurance before deciding whether or not to buy a policy. More   Jim Bigelow    918-640-4657 www.jimbigelow.com                jim@jimbigelow.com Coldwell Banker Select