For the last two and a half years, I have heard from hundreds of homebuyers the same thing: "I would buy now but I don't want to do that then lose my job."  I had that privilege of experiencing that first hand when my wife and I relocated for a job fresh out of college.  We purchased a new home that we could afford on my salary alone and then six months later, the firm ran out of money.  We were devastated, facing a mountain of bills and no income to pay them long term. 

Taking a cue from the car maker Hyundai's playbook of offering unemployment insurance, some mortgage lenders are offering the same program to buyers.  One lender in particular, Fairway Independent Mortgage, recently unveiled their program that would assist unemployed borrowers for up to year.  Like all things, there's a one time fee paid at closing but its nominal for the protection and peace of mind. 

This, coupled with the large numbers of loan modification options that are available today to buyers, will aid in the Charlotte area's housing market recovery.  After all, unemployment happens even to the best of us. 

For more information on this program, call Dan Coggins or Bob Jenkins at Fairway Independent Mortgage at 704-261-1000.  

Charlotte Real Estate