Jean Joh

Mortgage Protection Program for First-Time Homebuyers!!
April 3, 2009 · Jean Joh · 4 Comments

newsGreat news for California home buyers!  As if the $8000 tax credit, historically low interest rates, and affordable home prices were not enough, the California Association of Realtors Housing Affordability Fund (C.A.R.H.A.F.) is making the pot even sweeter by offering a mortgage protection program for first-time home buyers.  Wow!  

Back in January, I posted a blog on my personal blogsite (http://budurl.com/5vpd) about the Hyundai Assurance Program (if you lose your job or have another hardship within 12 months, you can give your new car back) and commented that it would be an interesting idea if we could have the same sort of thing for buying homes.  The basic idea – buy a new home, and if you lose your job, you can give the home back without penalty.  Well, it seems that someone out there was reading my blog…okay, maybe not, but this new program is not too far from the same line of thinking.  So what does it entail exactly?

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