3.20.17

A mortgage plus peace of mind: Program covers your payment in case of job loss

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What happens when you’ve done everything right as a homeowner but suddenly find yourself out of a job? Without a job, paying your mortgage becomes a big worry – unless you have a home loan from Consumers with MortgageAssure!

We’ve partnered with Radian Guaranty, our Private Mortgage Insurance (PMI) provider, to protect your home in case of involuntary job loss. If your loan qualifies for MortgageAssure, you’re covered for up to six monthly mortgage payments, up to $1,500 a month – at no extra cost to you!

Who’s Eligible

MortgageAssure is available for:

  • Borrowers with Private Mortgage Insurance (PMI) from Radian Guaranty
  • Primary residences that are owner-occupied, single-family homes
  • When at least one borrower is not self-employed

How it Works

  • You’re automatically covered when you take out a new Consumers mortgage and have PMI from Radian Guaranty.
  • If you lose your job involuntarily (for example, because of downsizing) MortgageAssure makes your payment.
  • Up to $1,500 a month is paid to Consumers Credit Union to cover principal, interest, taxes, and insurance. Maximum total benefit of $9,000.
  • You’re eligible for up to six months of payments during the first two years of your home loan. The months do not have to be consecutive.
  • To make a claim, call at 877.484.5677 between 8 a.m. and 5 p.m.

When you need a mortgage, turn to Consumers first. We’ll protect your home – and your peace of mind – in case of involuntary job loss!

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