Home Warranty Programs

Many homeowners find themselves in a bind when something major in their home breaks unexpectedly. These homeowners are commonly faced with the choice of paying the mortgage that month or repairing whatever has broken. Sometimes, the item that needs to be repaired is a major component of a home, like a furnace. When this happens, the family might not be able to make its monthly mortgage payment.

One of the many things that traditional renters do not realize is how much it costs to keep a home in tip-top shape. People who have only ever rented only know to call the maintenance office in the event of a clogged toilet or broken furnace or dryer. Homeowners do not have that option and so must pay for everything out of pocket.

While many individuals may have money set aside for emergencies, if the item that breaks costs thousands of dollars to repair or replace, the emergency fund might not cover it, leaving a family without the ability to pay the mortgage if they have the item fixed.

Fortunately, there are home warranty programs in place to help out. While they are expensive up front, a homeowner can have things repaired with a simple co-pay or deductible through the warranty program. This reduces the out of pocket expense significantly and increases the chances that a family may be able to afford the mortgage and the home repair in the same month.

Contact a Boston Bankruptcy Lawyer

If you have been faced with a mountain of home repairs or medical bills and are now deep in debt with no way out, contact the Boston bankruptcy lawyers of Joshua Spirn & Associates at 1-800-975-5346.