You’ve probably seen the ads on TV from Hyundai and other auto makers offering to make your payment if you buy a new car and then lose your job…That seems like a pretty good deal. Now, California Realtors are making you an even better offer: buy a home in California using a Realtor, of course, and you’ll be eligible to receive up to $1500 per month for 6 months if you lose your job…
Here’s how the California Association of Realtors’ [CAR] plan works. CAR membership dues pay into the Housing Affordibilty Fund which will support the program. CAR estimates the program will have $1,000,000 and will help 3000 families. Through this program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive the payout. And, the program also supports coverage fro accidental disability and a $10,000 death benefit.
To be eligible for ths program, here’s how you qualify: ·
- Be a first-time home buyer – someone who has not owned a home in the last three years.
- Open escrow April 2, 2009, or later, and close on or beforeDec. 31, 2009
- Use a California REALTOR® in the transaction
- Purchase the property in California
- Be a W-2 employee (cannot be self-employed)
For more information about the program or to get an application, call Diane at 626-641-0346…