HELP Frequently Asked Questions What is Job Loss Protection? Job Loss Protection is a mortgage payment protection plan that pays your purchaser's monthly mortgage payment for up to six months in case of involuntary job loss. What is the best way to explain the mortgage payment protection benefit? The purchaser is covered by the mortgage payment protection for a period of two years. This means that up to six monthly mortgage payments will be paid to the lender should the purchaser become involuntarily unemployed and are eligible for unemployment benefits". Is Job Loss Protection mandatory? No, but it is a protection package of value that is provided by the seller or agent. Do purchasers have to purchase a mortgage payment protection plan through the HELP program or can they purchase a plan from an independent source? To enjoy the program benefits services must be provided through the HELP program. Is this like life or disability insurance? No, mortgage payment protection is an involuntary unemployment plan that covers the purchaser(s) in case of involuntary job loss only. Can HELP provide mortgage payment protection for all qualified purchasers? Yes, coverage is automatically provided by participating sellers. How long does the coverage last? Coverage is good for two years from the date of settlement. Can the coverage be renewed? No, the borrower will not have the opportunity to renew at the end of the initial coverage period. The coverage is provided as part of the HELP program whose purpose is to create and maintain responsible home ownership. When an involuntary job loss occurs, who reports the claim? It is the covered purchaser's responsibility to notify the underwriting carrier. A carrier representative will assist with the benefit claim. Are there any other benefits to the HELP program? Yes, as a HELP participant the purchaser will have access to education and counseling from the Rainy Day Foundation.