Realtors step up to the plate
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CAR - the California Association of Realtors offer buyer protection …
It seems like stimulus packages and buyer incentives have become the norm these days. First the car companies offered incentives that if you buy a car and lose your job, they will pay your car payment or even take your car back with no penalties.
What a great idea!
Following suit, the California Association of Realtors (CAR) announced a program aimed at offering some buyer protection.
Starting April 2, 2009, CAR rolled out a program under the Housing Affordability Mortgage Protection Program where first time buyers are eligible to receive up to $1,500 per month (for six months) if they lose their job due to layoffs. Co-buyers are eligible for up to $750 per month (for six months) if they lose their jobs due to lay off as well. Also included is coverage for accidental disability, and a $10,000 death benefit.
Of course, certain rules and restrictions apply (for instance self employed and military are not eligible).
For more information on this new program please contact us and we would be delighted to fill you in on the finer details …
With low interest rates, reduced prices home prices, and now this mortgage protection program, this really is an excellent time to buy!
Search the San Diego MLS database here: SanDiegoRealEstateAgent.com
Written by Ana Maria Goodemote
» Posted by Peter
