Pop! Corrie Adams of Chicago, IL, and International Brotherhood of Teamsters (IBT) Local 710, stepped off of his forklift and felt a sharp pain in his knee. He didn't know it at the time but he was going to be out of work for six months. And the assistance that came with his Union Plus Mortgage was going to play a bigger part in his life than he had ever imagined.
Life can be funny that way. Adams didn't even know about mortgage assistance when he decided to refinance his home four years ago. Like many homeowners, he was just looking for a low interest rate. But when he learned that the program could offer protection in the event of unemployment, strike or disability, he figured it made sense to get a Union Plus Mortgage - just in case. "I never expected to use the help," Adams says.
Adams had surgery, went through rehab, and missed six months of work and paychecks. But through the whole ordeal, he and his family didn't have to worry because he had the assistance benefit that comes with every Union Plus Mortgage.
"Union Plus is very beneficial for the working man," Adams says. "Unions help stabilize the economy and really take a load off during tough times. I'm thankful that Union Plus is looking out for working families like mine."
Union Plus Mortgages Keep Teamsters in Their Homes
The Union Plus Mortgage Assistance Program is a union-only program that can help you keep your home. 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. The loans can even be repaid for as little as $75 a month, which makes it easier to get back on your feet after a tough time.
"It was like the weight of the world was lifted off my shoulders," Adams says. "Not having to worry about my mortgage during my recovery was a huge asset. I was so thankful to Union Plus and thankful for being a Teamster."
Protecting his home meant protecting his wife, three children and his future, which is why he considers his choice of a union mortgage one of the smartest financial decisions he's ever made.
$11 Million in Assistance Available to Qualified Members
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.
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.
Click here to learn more about the benefits of a mortgage designed with union members in mind.