California Association of Realtors to help first time home buyers

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today launched the C.A.R. Housing Affordability Fund Mortgage Protection Program (C.A.R.H.A.F. MPP), for first-time home buyers.

Through the Housing Affordability Fund Mortgage Protection Program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive $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.

C.A.R.’s Housing Affordability Fund is dedicating $1 million toward its Mortgage Protection Program, and estimates that as many as 3,000 families will benefit from the program this year.

To qualify for the Mortgage Protection Program, applicants must:

•· Be a first-time home buyer - someone who has not owned a home in three or more years

•· Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009

•· Use a California REALTOR® in the transaction

•· Purchase the property in California

•· Be a W-2 employee (cannot be self-employed)

To apply for the program, home buyers must request an application for the H.A.F. Mortgage Protection Program from their REALTOR®.

Larry has over 25 years of experience in selling real estate. Larry is President of Weichman Associates located in Costa Mesa California. He has sold real estate since 1976 and is a 3rd generation Real Estate Broker. Larry has closed escrow on over 1,000 properties; from townhomes to commercial buildings. Please be sure to visit us on the Internet at https://TeamWeichman.com, https://OCHomeTracker.com or https://OCRepoBroker.com or you can call me at 714-241-4532