The Housing Affordability Fund (http://www.car.org/tools/haf/ ) launched a new program on April 2, 2009, in order to ease the minds of first-time-home buyer's who were worried about potential job loss due to the current economy, and subsequent challenges in making their mortgage payments.
With the FREE C.A.R. Mortgage Protection Plan, qualified buyers can receive up to $1,500 per month for up to six months should they lose their jobs, and qualified co-buyers can also receive up to $750 for up to six months to be put towards the mortgage payment.
In order to qualify for the CAR Mortgage Protection Plan, a Buyer must:
1. Be a first-time home buyer (must not have owned a home within the past three years).
2. Open Escrow after April 2, 2009, and close before December 31, 2009. UPDATE: CAR HAS EXTENDED THE PROGRAM THROUGH 2010!!!
3. Use a California Realtor.
4. Be a W2 employee (must not be self-employed).
Please click on the links below for additional information!
Frequently Asked Questions:
http://www.car.org/3550/pdf/204893/Revised_Jul2009_HAFMPP_FAQ.pdf
Samples:
http://www.car.org/3550/pdf/204893/Program_Samples.pdf
Application:
http://www.car.org/3550/pdf/204893/HAF_MPP__FINAL_APPLICATION_1.pdf
Why not take advantage of this incredible offer - it is free! If you have any questions regarding your eligibility, please feel free to contact us directly.
Have a wonderful day and Happy House Hunting!
Sincerely,
Stephanie Frymyer
http://www.serenefoundations.com/
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