WOW! The California Association of Realtors has just rolled out another great service for the buyers who work with California Realtors to purchase a home. Through the C.A.R. Housing Affordability Mortgage Protection Program, first-time buyers who lose their jobs due to layoffs may be eligible to receive up to $1500 a month for 6 months to help make their mortgage payments. A co-buyer may be eligible to receive up to $750 a month to help make the payments. This program also includes death benefits and accidental disability insurance for qualified buyers. A first-time homebuyer is anyone who has not owned a home in the last 3 years.
An agent in my office came up with the idea a few months ago and sent it on to C.A.R. She has been very prominent on the Housing Affordability committee at C.A.R.
For all you first-time homebuyers who want to work with a Realtor in the Know, please call me for more details on this great program!
I have been serving buyers and sellers in the Alameda and Contra Costa counties for over 25 years.