Missed Mortgage Payments

While mortgage payment protection is an added expense that you would have to pay out each month, when you consider the consequences it is worth the small price. If you just miss one repayment the lender will want to know how you are going to catch up on the arrears and will want assurance you can pay your mortgage. If you have not got the income coming in then you will not be able to give this guarantee. If you continue to miss payments then the lender will take steps to repossess your home and you could be evicted and lose everything.