Yet another incentive and a little piece of mind for home buyers.
April 2nd, 2009, marked the start of the Housing Affordability Fund's new mortgage protection program that's being offered to first-time home buyers. (First time home buyers are persons who have not bought or owned a primary residence in the past three years.)
Through this new program, first time home buyers who lose their jobs (due to layoffs) may be eligible to receive up to $1,500 monthly towards mortgage payments for 6 months. Co-buyers can also benefit for a monthly amount of $750 for the same time period.
This program also includes accidental disability and a $10,000 death benefit.
To qualify escrow must close on or before December 31st 2009 and use a licensed Realtor.
For more information visit:
http://www.car.org/newsstand/newsreleases/mppstory/
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