Mungo Preferred Lender to Protect Borrowers

Through one of its preferred lenders, The Mungo Companies is now offering a plan to protect buyers from losing their homes should a situation occur that might prevent them from making mortgage payments. The Bank of America Borrower’s Protection Plan protects a borrower by canceling up to a total of 12 monthly principal and interest payments in the event of a disability, involuntary unemployment, hospitalization or loss of life. During these uncertain economic times, buyers can feel more comfortable purchasing a home, which is a step towards long-term financial security.

The plan is free for a single person and deeply discounted for a couple for the first year. The plan is not an insurance policy and enrollment must be requested prior to closing. There is 90-day exclusionary period, and other eligibility requirements, conditions and exclusions that may prevent benefits under the BPP. Please see a Mungo on-site community sales manager who can provide complete information through one of our Bank of America loan officers.