The Beverly Hills Real Estate blog www.patandmelody.com
How'd it get to be Friday so soon? That's a bad question to ask... It's best left unsaid... It's like saying aloud, "the traffic isn't that bad." Soon as you do... the traffic slows to a snails pace. Let's just be happy it is Friday!
Partly cloudy and cool. 62 predicted for downtown LA. Tomorrow we will post the weekend open house guide for you.
U.S. stocks faltered this a.m. after data showed further deterioration in the labor market. The unemployment rate hit its highest since 1983, underscoring the severity of the recession.
Real estate news:
C.A.R. launches mortgage protection plan for first-time home buyers
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today launched the C.A.R. Housing Affordability Fund Mortgage Protection Program (C.A.R.H.A.F. MPP), for first-time home buyers.
Through the Housing Affordability Fund Mortgage Protection Program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive $1,500 per month, for six months, to help make their mortgage payments. A qualified co-buyer also can participate in the program, and receive a monthly benefit of $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®. That would be us!
HAVE A GREAT DAY!
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