Is there anyway to get out of a mortgage if you become unemployed and can no longer carry the payments without going into foreclousure.

Well, there is actually insurance you can buy to protect you in such cases. You pay a premium based on the principal balance. The bad news is you have to purchase it in advance of the loss of job, etc, and there typically is a waiting period before the insurance coverage begins.

Other than that I know of nothing. Well, other than selling the property or renting it out for enough to cover your mortgage payment.

Karla in TX