Thursday, November 25, 2010

California Association of REALTORS(R) Introduced Home Payment Protection Program

California Assoc. of Realtors 

The California Association of REALTORS® has introduced its CAR.org Home Payment Protection Program and encourages sellers to sign up for this as a benefit to offer for prospective buyers.

This Home Payment Protection Program (HPPP) is similar to the successful C.A.R.H.A.F. Mortgage Protection Program that pays a home buyer's mortgage if he or she is laid off from employment.  

The new program covers both first-time and repeat buyers for 12 months from escrow closing and would provide up to six mortgage payments of up to $1,000 or $1,500, depending on the coverage level the seller chooses.  A seller can choose to pay $200 for six mortgage payments up to $1,000 or $275 for six mortgage payments up to $1,500.

Benefits of this new CAR.org Home Payment Protection Program:

  • Help for buyers and sellers 
  • Sellers would be able to offer this as an added incentive to buyers
  • Help prospective buyers who are uncertain about their employment situation
  • Added layer of security on house payments for buyers during first year
  • Help sellers move property more quickly

For information about the CAR.org Home Payment Protection Program (HPPP) - click here - check out the web site and contact C.A.R.H.A.F. Mortgage Protection Program representatives.

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

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