More Junk Mail for Home Owners

There is no shortage of junk mail. If you have just bought a home or refinanced a home, you’re a very popular person with folks trying to sell you something. Some of the offers in the mail, like discounts to stores, are kind of nice…however other offers are just plain junk, if not worse.

I recently refinanced and received one of the worst pieces of $%#$% (mail) yet…let’s start with the envelope this junk arrived in.

life insurance mortgage warning
The first clue is that it’s in a gold envelope and appears to be coming from Washington DC. It doesn’t give a name of a company. It’s common to receive junk mail wrapped this way this time of year because that’s the color of envelope IRS refunds arrive in.

Also, when the mailer is inserted in the envelope with it’s urgent “FINAL NOTICE – INFORMATION ABOUT YOUR MORTGAGE”,  “Lender: Mortgage Master…” is in the window. It really looks “official”.

But wait… it gets worse. Let’s review the very (not) important letter from the top. This notice appears to be important and provides instructions…we still cannot see who this is from and it’s referencing the lender who did my mortgage. It seems official, right?

life letter top
After my address, we have the offer. This is all about offering insurance for my brand new big debt (my mortgage), in case of my death, disability or critical illness and offering me peace of mind. This is really disgusting to me.
life letter mid

The form letter continues with a form that I need to fill out – even if I already have mortgage life insurance.
Life ins letter bottom

Nowhere on this form is there a phone number or does it have a company name of who is offering this mortgage life insurance. In fact, the only company name on this form is Mortgage Master! Even the postage paid return envelope to Dallas, Texas does not have a company name – it’s simply addressed to the processing center.

I am THANKFUL when my clients call me to ask if we’ve sent them an offer for mortgage life insurance and if I think they should sign up. The answer to both of those questions is NO!!!

I am not a financial adviser or life insurance sales person. I specialize in helping people in Washington state buy and refinance homes. However, if you are interested in mortgage life insurance, please talk to your financial adviser or life insurance agent. Please DO NOT respond to something like this that arrives randomly in your mail box.

Toss this crap away, or better yet, forward it to the Department of Financial Institutions or the CFPB.


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