Bernard’s Danville Real Estate Blog

The California Association of Realtors has launched the C.A.R. Housing Affordability Fund Mortgage Protection Program, for first-time home buyers in California.

Through this Program, first-time home buyers who lose their jobs due to lay-offs could to receive $1,500 per month, for six months, to help make their mortgage payments. A qualified co-buyer can also participate in the program, and receive $750 per month for up to six months.  Program benefits also include coverage for accidental disability and a $10,000 death benefit. 

C.A.R.’s Housing Affordability Fund is dedicating $1 million toward its Mortgage Protection Program, and estimates that as many as 3,000 families will benefit from the program this year. To qualify for the Mortgage Protection Program, applicants must: ·          Be a first-time home buyer – someone who has not owned a home in three          or more years·          Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009·          Use a California REALTOR® in the transaction·          Purchase the property in California·          Be a W-2 employee (cannot be self-employed) To apply for the program, home buyers must request an application for the H.A.F. Mortgage Protection Program from their REALTOR®.

Tags: california, insurance, mortgage, protection, realtor

This entry was posted on Tuesday, April 7th, 2009 at 4:18 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.