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April 23, 2009

Realtor Association Steps Up To the Plate

You’ve been reading a lot about the various home buyer assistance programs being offered through the government. But I wanted to share information about a new California Association of Realtors (CAR) program for first-time home buyers.

CAR’s Housing Affordability Fund is sponsoring a mortgage protection program aimed at buyers who are qualified to make a home purchase—but who may also be concerned about the potential of losing their jobs. Through this program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month, for six months, to help make their mortgage payments.

I’m not a proponent of pursuing a house purchase amidst the backdrop of possible layoffs. But if this program can throw out a safety net for those who think their job is secure, I’m thinking it’s worth considering.

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