NYS Department of Labor unemployment benefits while paying mortgage - who offers mortgage unemployment insurance?
Lost my job 6 weeks ago and filed for unemployment through NYS Department of Labor. My weekly benefit amount is only covering about half my expenses and I'm really worried about my mortgage payments. I heard there might be insurance that covers mortgage payments when you're unemployed but I have no idea who offers this or if it's even real. Has anyone dealt with this situation? My unemployment claim was approved but the payments just aren't enough to cover everything. Any advice on mortgage unemployment insurance options would be really appreciated.
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Keith Davidson
Yes, mortgage unemployment insurance is a real thing! Some banks offer it as an add-on when you get your mortgage, and there are also standalone policies. Check with your mortgage lender first - they might have had you sign up for it without realizing. Also make sure you're getting your full NYS Department of Labor benefit amount by checking your wage base period calculation.
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Taylor Chen
•I don't remember signing up for anything like that but I'll definitely call my lender tomorrow. How do I check if my NYS Department of Labor benefits are calculated correctly?
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Ezra Bates
I had this same panic when I got laid off last year. Most major insurance companies like State Farm, Allstate, and others offer unemployment mortgage protection. It's usually pretty expensive though - like $50-100+ per month depending on your mortgage amount. Your NYS Department of Labor payments should be consistent though, so maybe look into mortgage forbearance options with your lender first before paying for new insurance.
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Ana Erdoğan
•This is good advice. I got forbearance on my mortgage when I was on unemployment for 4 months. Much easier than trying to find insurance after you're already unemployed.
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Sophia Carson
Have you tried calling NYS Department of Labor to ask about any additional assistance programs? I've been trying to get through to them for weeks about my own claim issues. The phone system is impossible - always busy or just hangs up on you. If anyone has tips for actually reaching a human there I'd love to know.
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Keith Davidson
•I actually found a service called Claimyr that helped me get through to NYS Department of Labor when I couldn't reach them myself. You can check it out at claimyr.com - they have a video demo at https://youtu.be/qyftW-mnTNI that shows how it works. They basically call for you and get you connected to an actual agent. Saved me hours of frustration trying to get my claim issue resolved.
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Sophia Carson
•That sounds too good to be true but at this point I'm desperate. I'll check out that video, thanks!
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Elijah Knight
mortgage insurance is a scam tbh, just another way for insurance companies to make money off desperate people
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Ezra Bates
•I wouldn't call it a scam exactly, but you're right that it's expensive. Really depends on your situation and how stable your job was before.
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Brooklyn Foley
When I bought my house in 2019 my mortgage broker mentioned unemployment insurance but I declined it because it seemed expensive at the time. Now I wish I had gotten it! Make sure you're also doing your weekly job search requirements for NYS Department of Labor - missing those can mess up your benefits. You need to document 3 job contacts per week and they're stricter about it now than they used to be.
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Avery Flores
I'm in a similar situation and found that some credit unions offer better mortgage protection options than big banks. Also, don't forget to check if you qualify for any utility assistance programs while you're on NYS Department of Labor benefits - many utility companies have hardship programs that can free up some money for your mortgage. Contact 211 (dial 2-1-1) for local assistance programs in your area. They helped me find food assistance which reduced my grocery budget and gave me more room for housing costs.
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