IUEC member learns why all mortgages are not alike
Choosing a career and buying a home are two of life’s biggest decisions. Jason Collin of Tinley Park, IL, and International Union of Elevator Constructors (IUEC) Local 2, made sure to go union all the way. Like his father, a 30-year union man, Collin joined the IUEC. And when it came time to buy a house, he took his father’s advice and chose a Union Plus Mortgage - the only one that comes with the mortgage protection for union families. It was an important decision he would be very glad he made!
First came an injury when Collin hurt his shoulder moving a door at work. Then came a layoff when commercial construction stalled during the bad economy. Both events hurt Collin’s wallet.
But as every working family knows, mortgage payments don’t slow down just because the economy does — they keep coming due even during tough times. “I was running into some issues with money,” he says, “and the mortgage needed to be paid.”
Collin knew he was going to have to do something so he tapped into the assistance that came with his Union Plus Mortgage. “That’s why we got a union mortgage in the first place,” he says. “We saved money on our closing costs and that was great. But the big thing was the Mortgage Assistance Program. I wanted to make sure my family – and home - was protected.”
The IUEC Union Plus Mortgage Assistance Program Saves Members’ Homes
The Mortgage Assistance Program is a union-only program that can cover your mortgage payment if you’re out of work during unemployment, disability or strike. The program provides interest-free loans to union members, as well as their parents and children, who have had a Union Plus Mortgage for 12 months or more. The first $1,000 of the loan is a grant that never needs to be repaid.
Collin received three months of assistance, and then another two months for a total of almost $5,000 in assistance.“It was easy,” he says. “I called and they were very nice about it. I had the help I needed in less than a month.”
Collin has friends and family members who have been laid off and even knows some who have lost their homes. He recommends union members who are considering the purchase of a home to make the same smart decision he did and choose a union mortgage. “There are a lot of programs out there that say they help working families,” he says. “The Union Plus Mortgage is one of the few that really does what it says. It sure helped me.”
“I’m glad I went union and I’m glad I went with Union Plus Mortgage,” he says. “They helped me protect my home, and that means the world to me.”
$8 Million in Assistance to Union Families
Considering the purchase or refinance of a home? The Union Plus Mortgage Program, provided by Chase, offers a full-range of mortgage products for union members, their parents and children.
Since its inception, this special union benefit program has paid out over $8 million in assistance, helping union members keep their home loans current. And unlike most other mortgages, Union Plus Mortgages are guaranteed not to be sold, but will be held through Chase for the life of the mortgage.
To learn more about the Union Plus Mortgage Program, visit UnionPlus.org/Mortgage.