This program launched by the California Association of Realtors is little known but, a big plus for those who would like to take advantage of the current market conditions and purchase a home but may be hesitant because of job insecurity. My understanding of this program is that to qualify you must be a first time buyer and you must use a Realtor who is amember of CAR. Here is a blurb from thier website with a link for further information:
"To help provide first-time home buyers with peace of mind when purchasing a home, the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) Housing Affordability Fund is offering a new mortgage protection program to first-time home buyers. Through the C.A.R. Housing Affordability Fund’s Mortgage Protection 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. A qualified co-buyer also can participate in the program, and receive a monthly benefit of $750 per month for up to six months. Program benefits also include coverage for accidental disability and a $10,000 death benefit. For more information including eligibility requirements and information on applying for the C.A.R.H.A.F. Mortgage Protection Program, please visit www.car.org/aboutus/hafmainpage/carhafmortgageprotection/ "