What is Mortgage Rescue?
Mortgage Rescue, Mortgagor Catastrophe Payment Protection, is an insurance program that can pay your monthly mortgage payment to Countrywide Home Loans if your home is damaged and becomes unlivable due to a covered loss. It can also pay up to $100,000 of your unpaid mortgage balance to Countrywide Home Loans if your home is permanently uninhabitable due to a covered loss. Other benefits include cash payments to you that are 10% of your monthly mortgage payment for up to 3 months and reimbursement of your homeowners deductible, up to $500 (for real property losses only).
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How does Mortgage Rescue help protect my mortgage payment?
If your home becomes temporarily uninhabitable due to fire, flood, earthquake, hurricane, tornado, or any other covered loss, Mortgage Rescue can pay your mortgage payments to Countrywide Home Loans for up to 24 months while it is being restored to a livable condition. If your home is damaged and becomes permanently uninhabitable due to a covered loss, Mortgage Rescue can cover the unpaid balance of your mortgage, up to $100,000¹.
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Does Mortgage Rescue only pay the principal + interest of my mortgage payment?
Mortgage Rescue will pay the amount stated on your Declarations page. This is the amount you currently pay each month to Countrywide Home Loans. This payment includes finance charges, interest charges and insurance charges that are scheduled to be paid by you.
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Does Mortgage Rescue provide cash for incidental expenses if my home becomes uninhabitable?
Mortgage Rescue pays you 10% of your monthly mortgage payment, for up to three months, if your home becomes uninhabitable due to a covered loss.

For example, if your monthly mortgage payment is $1,000, you can receive a benefit of $100 for up to 3 months.
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How is Mortgage Rescue different from my homeowners insurance?
If your home is damaged, your homeowners insurance policy may cover the cost to repair your home but it will usually not cover your mortgage payments. If your home is damaged and becomes uninhabitable due to a covered loss, Mortgage Rescue will pay your monthly mortgage payment to Countrywide Home Loans for up to 24 months while your home is being restored to a livable condition.
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What types of disasters are covered?
Mortgage Rescue is an insurance policy that covers losses from all causes not specifically excluded in the policy.
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What events are excluded?
Certain events are excluded in this policy. They include, but are not limited to:

• War
• Allergens
• Constant or intermittent noise
• Intentional act caused by you or at your direction
• Vandalism or malicious mischief
• Power Interruption

Please read the policy for a complete list of terms, conditions and exclusions. You'll have 30 days to review the policy. If you cancel within 30 days, we'll refund any premium paid to us.
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Does my home need to be completely uninhabitable to receive the benefits?
Yes.
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Who determines if my home is uninhabitable or if the cause is a covered event?
Balboa Insurance Company (Meritplan Insurance Company in LA) will make the determination. You will need to call the toll free number on the Declarations Page and file a claim.

Balboa Insurance Company (Meritplan Insurance Company in LA) will rely on federal, state or local statutory or common law, ordinance, rule or regulation, or judicial or administrative order or decision to determine if your home is permanently or temporarily uninhabitable.
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What does it mean if my home is temporarily uninhabitable or permanently uninhabitable?
Temporarily uninhabitable means that as a result of a covered loss, your covered property is unfit for use as a residence as of the date your mortgage payment is normally due and payable.

Permanently uninhabitable means that as a result of a covered loss, your covered property is unfit for use as a residence and cannot be made fit for use as a residence by corrective action.
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Are condominiums covered?
Yes, as long as you are occupying the condominium and it is being used as your primary, single-family residence.
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Are manufactured homes covered?
As long as your manufactured home is on a concrete slab and meets the other qualification criteria, Mortgage Rescue will cover your property.
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How is the premium determined?
The premium for Mortgage Rescue is calculated by multiplying your monthly mortgage payment by 1.25%. For example, if your mortgage payment is $1,000 a month, you pay only $12.50 a month for this valuable coverage.

You may choose, for an additional $5.55 per month, to purchase Optional Additional Coverage* which provides the following added benefits in the event of a covered loss:

• An additional $500 in emergency cash if your home becomes uninhabitable for more than 24 hours.
• An additional $500 for reimbursement of your homeowners policy deductible.
• An additional $500 per month of cash payments for up to three months, should your home be uninhabitable for more than 24 hours.

* Not available in all states
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Will the premium or coverage change?
No. The monthly mortgage payment benefit and premium will be calculated based on your monthly mortgage payment at the time of your coverage request.
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How do I pay for coverage?
When you sign up for coverage, your premium will be added to your mortgage statement and identified as optional insurance coverage. The premium will be conveniently collected with your monthly mortgage payment.
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When will my policy become effective?
A policy will be sent to you within 7 - 10 days after signing up for coverage. The effective date is listed on the Declarations Page but it is typically within 30 days of your request.
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Will my policy continue if I refinance my loan?
If your home loan is refinanced or sold to another mortgage lender, your policy will be cancelled. When the policy is cancelled, the premium paid from the date of cancellation to the expiration date will be refunded. If you refinance with Countrywide Home Loans, you may request for coverage on your new loan by submitting the Request Form you will receive with your cancellation notice.
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Can I cancel my policy?
You may cancel your policy at any time by notifying us in writing. You will receive a full premium refund if you cancel within the first thirty days.²
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Can I add/cancel the Optional Coverage at a later time?
Yes. Simply call 1-877-751-4229 to request the addition or cancellation of the Optional Additional Coverage.
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How do I file a claim?
A claim can be filed by simply calling the toll free number listed on the Declarations Page of your insurance policy. Our Customer Service representatives will help you with any questions.
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What do I need to do in the event of a covered loss?
In case of a covered loss event you must:

• Notify us immediately.
• Protect the covered property from further damage; and
• Submit a statement of loss within 90 days of the loss, that includes the date, time and cause of loss; your interest in the covered property; other insurance which may cover the loss; changes in the title or occupancy of the covered property; and evidence of the loss as required by the policy.

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Are the mortgage benefits pro-rated by the number of days I cannot live in my home or is the full month's mortgage paid?
No, in the event of a covered loss, we pay the monthly payment stated on your Declarations Page if your home is uninhabitable on the day your mortgage payment is due.
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