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Good News if you are a Home Buyer in California

This is a great new program which is designed to give first time home buyers peace of mind who are hesitant to enter the housing market due to concerns about potential job loss, and subsequently being unable to meet their monthly payments on their mortgage.

Through the California Association of Realtors Housing Affordability Fund Mortgage Protection Program, first time home buyers who loose their jobs due to layoffs may be eligible to recieve up to $1,500 per month for up to 6 months to help make their mortgage payments. A qualified co-buyer can also participate in the program, for a reduced benefit of $750.00 per month for up to 6 months in the event of a job loss. Programs also include coverage for accidental disability and a $10,000 death benefit.

To qualify for the Mortage Protection Program:

• Applicants must be  a first time home buyer – someone who has not owned a home in the last three years.
• Open escrow between April 2nd 2009, and close on or before Dec. 31st 2009.
• Use a California Realtor in the transaction.
• Purchase property in California.
• Be a W2 employee (cannot be self employed or military personel)

So if you know of anyone who is  a first time home buyer and thinking about getting into the housing market please pass this news along. With programs like this available why wait, now is the time to buy while homes are still affordable and interest rates are great. THERE IS NO COST TO THIS PROGRAM!

Please call us if you would like any more information or we can be of any help to you. We answer our phones!

Pam Parton 76-=580-1615          Joanna Woolley 760-580-1615