MPPI To Help Recession Proof Your Home & Protect Your Family!

"As of March 10th 2009 the International Monetary Fund (IMF) issued a statement indicating the global economy will shrink this year for the first time since the second world war as the "Great Recession" ravages businesses, consumers and financial institutions around the world". The Guardian

Here in the UK, we have officially entered recession for the first time since 1991, after the economy shrank at the fastest pace for nearly 30 years in the fourth quarter. The fall in gross domestic product (GDP) was the biggest since the second quarter of 1980, the year of the Bristol riot and the Iranian embassy siege. This is grim news for those of us who remember these times and more to the point fear going through these troubled times again. We remember the mass unemployement and it is happening again with Unemployment shooting up close to the 2 million mark, with the rate at 6.1% & manufacturing output plummeting by 4.6%. This is begining to sound very familiar & VERY scary for those of us could be facing redundancy. With redundancy comes financial hardship and the chance at loosing our homes, our families and our lifestyle.

What can we do you ask? Well there is a insurance product designed to cover us in such situations called mortgage payment protection insurance (MPPI). This type of cover is designed to cover your mortgage payments & a small amount of extra costs to keep a roof over our heads while we get back on our feet. It can be taken out over a period of 12-24 months and after an initial grace period (~3 months) will cover your home should you loose your job. This type of protection is now begining to gain popularity amongst the prudent amongst us as mortgage payment protection offers the type of protection that during the last recession we could only dream of having, easing stress and protecting our families.