Emergency Mortgages

As the name implies, an emergency mortgage is a short-term mortgage designed to provide quick financial aid to people in the event of unexpected emergency situations. In recent times, the number of people taking out emergency mortgages to get through difficult times has significantly increased. One of the key benefits of obtaining this type of mortgage is that you can use the borrowed amount for any purpose, including medical bills, car payments, rent, mortgage payments,credit card debt, student mortgage debt, etc.

You can obtain an emergency mortgage from a lender in various ways, including –

• A home equity line of credit
• A home equity mortgage
• A charge on the credit card
• An unsecured mortgage

One of your key considerations when applying for an emergency mortgages should be the “Collateral” you pledge for the mortgage. For instance, pledging your home.