Did you buy a home after April 2009? Or do you plan on completing a purchase this year before July 2010? If so, then you may qualify for a little extra peace of mind. 
Due to popularity and demand, the California Association of Realtors (C.A.R.) has extended their Mortgage Protection program to June 30th.
What are the benefits, and how much does it cost? It’s dead simple: Qualifying buyers can receive up to $1,500 a month for up to six months in the event of job loss, a qualified co-buyer can also receive a $750 benefit for up to six months to help pay the mortgage. And the cost? NOTHING, other than the cost of the home you just completed! 
Here are the basic qualifications:
- Be a first-time home buyer – someone who has not owned property in the last three years. (includes co-buyer).
- Open escrow April 2, 2009, or later, and close on or before June 30, 2010. (purchase agreement cannot be dated before April 2, 2009)
- Use a California REALTOR® in the transaction (fee for referral does not qualify)
- Be a W-2 employee (cannot be self-employed)
- Purchase the property in California
- To qualify for the program applications must be received within 30 days of closing escrow
Do you qualify (or will)? If so, what are you waiting for! Contact me for assistance and Download the Revised MPP Application followed by a list of Frequently Asked Questions.
( This must be submitted by an active California REALTOR®, such as me)
