Offer your thoughts or opinion on the input financial query or topic using your financial background.

Homeowners: How can you protect yourself from a financial worst-case scenario?
I am lucky enough to have chosen a flexible mortgage that allows me to change payment amounts at certain, very lenient intervals (to a minimum amount).  So when I was laid off, the first thing I did was call my bank to lower my payments to a level that allowed me some breathing room, at my new, lower income.  If and when my family's income increases, I'll re-adjust my payments to a higher amount.   But if you're concerned about the "what if"s in this economy, I'd definitely choose a mortgage that allows for flexibility so that you don't lose your house if you don't have to, particularly if your situation is temporary.