Discussion about insurance mail solicitations.
Mortgage Protection Center: does this look familiar?
I opened a line of credit on my house, but it has opened a flood gate for mortgage protection junk mail. It's the only junk mail I get. I even figured out how to opt out of the missing child cards (I figure even if I saw the kid at the store an hour earlier, they walked up to me, said "hi", and told me their name, I still wouldn't recognize them on the cards).
When I closed on the line, I instantly called the mortgage company's privacy line to opt-out of sharing. I'm apparently getting this junk mail from companies that ignore the DMA Mail Preference Service, ignore the major credit reporting agency promotional opt-out, and they never send identifying information about the company they represent in the ad for their life insurance.
Mortgage Protection Dept letter
I got another letter in the mail today, mocked up like it came from my mortgagor. The return envelope had an address of:
Mortgage Protection Dept
PO Box 254
Springfield NJ 07081-9932
Why not to cosign a mortgage
A caller to the Dave Ramsey radio show gives a real-life reason why not to co-sign on a mortgage and if you did already why the resident needs to refinance or sell.
Free biweekly mortgage payments
If you've never heard of bi-weekly mortgage payments, the idea is quite simple. Instead of making 12 payments a year, you make a payment every 2 weeks of half your regular mortgage amount each. The end result is that you end up making the equivalent of an extra mortgage payment a year. Instead of taking all 30 years to pay off a 30 year loan, it takes about 24.2 using this idea.
Some people are willing to do the payments for you, say you're not disciplined enough, and make out like it's a complex thing to setup. These people, for example, sent me a letter in the mail about it.
Mortgage Protection Insurance
Which company sent me this letter? I got another mortgage protection letter today. I'm starting to think one of the places I opted out of added me back to their mailing list.
Mortgage Protection Insurance
PO Box 9110
Franklin MA 02038-9933
MORTGAGE Protection
Insurance Services
6939 Sunrise Blvd
Citrus Heights CA 95610
New Mortgage Protection Services card
Today I received a new, smaller mortgage protection invitation from
Mortgage Protection Services
Processing Center
PO Box 661028
Arcadia, CA 91066-9812
Dave Ramsey slams whole life
A caller to Dave Ramsey's radio show asks for advice about whether or not to cancel her whole life insurance policy. Her reservation in doing so was her insurance agent's claim of a 7.5% tax free interest earnings on the money in the policy. Dave explains why the agent is wrong and what the Ramsey family would do.
Read this pdf it might help with the refinancing part
This pdf talks about missed fortune a little bit.
Zack
Mortgage payoff philosophy
A philosophical question for you do you think people should have their mortgage payed off as quick as possible?
What does NAA actually do?
Does National Agents Alliance actually sell any insurance or are they just a marketing arm for agents to get leads so they can sell insurance from some other carrier or underwriter? Is anybody at NAA even actually licensed to sell insurance?
