The California Association of Realtors® has just announced a FREE Mortgage Protection Program for first-time home buyers.  If you have been sitting on the fence wanting to buy a home but are worried about what the future holds, here is some good news for you.  First-time home buyers that are buying a home in California may be eligible for mortgage protection against job loss, disability or accidental death.  The CARHAF Mortgage Protection Program is being offered by the California Association of Realtors®  to first-time home buyers.
 
CARHAF Mortgage Protection:

    *      Covers first-time home buyer's mortgage payment during their first year of ownership.
    *      Covers first-time home buyers in case of loss of employment
    *      Covers first-time home buyers in case of disability
    *      Covers first-time home buyers in case of accidental death
    *      Will pay up to six months of the first-time buyer's mortgage payment
 
CARHAF Morgage Protection Qualifications:

    *      Must be a first-time buyer (buyer who has not owned a home for three years or more)
    *      Must purchase a home in California
    *      Must use a California Realtor® to represent them in the purchase of the home
    *      Must open escrow after April 2, 2009
    *      Must close escrow no later than December 31,2009
    *      Must be a W-2 employee (self-employed buyers do not qualify)

Don't sit on the fence if you want to take advantage of the Mortgage Protection Program.  It is a limited-time offer!  The program will end on December 31, 2009.  Loan processing time has increased due to loan scrutiny of underwriters.  Further documentation may be required throughout the process all the way up to funding of the loan.  This can cause a delay in your escrow closing.  Remember, escrow must close on or before December 31, 2009; the reason for a delay in closing will not matter.
 
Dave and Patricia Zumbrun, The Z Team